Legal Question in Tax Law in Nevada

Veterans question

A new corporation that

has not yet filed it's

first IRS return.

Had a reunion; and had

monies taken in, including

possibility of some profit.

Indications are that newly

elected officers may ignore

the filing duty responsibility.

If this occurs, does the five (5)

creating officers of the

corporation, and related

EIN number acquisition, face

the possibility of being

'harassed' by the IRS for

the taxes due, etc.?

Thanks

Chuck


Asked on 7/10/03, 4:26 pm

1 Answer from Attorneys
Lawrence Graves Coolidge & Graves PLLC

Re: Veterans question

The organization should already have engaged a CPA (note: not some guy who calls himself an "accountant" but a real Certified Public Accountant) to assist with this kind of issue. Not sure why the company is organized as a for-profit corporation, but this may also have been a mistake. A CPA can evaluate the situation, and may recommend dissolving the existing entity and forming a non-profit corporation instead.

Best wishes,

L.D.W. Graves, LT, USNR(R)

Read more
Answered on 7/10/03, 4:37 pm


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