S Corporation Dissolution

[KMACK]

If a calendar year S Corporation was dissolved in November of 2019, for purposes of the 2019 tax return, is the "ending date" of the tax return still 12/31/2019?  Or is the ending date the date of dissolution, thus creating a short year and moving the due date of the return to February rather than March 15th?  Thank you.

KMACK

[sjrcpa · Accepted solution]

It depends. Was the S Corp still winding up its affairs after the legal dissolution? Or was the dissolution date the end all.

On a practical note, you can probably use 12/31/2019 without issue.

[KMACK]

It was probably still winding up.  There were a few expenses paid after the dissolution date including my fee.  The issue arose because I put November as the end date and the client received a late filing notice saying the return was due in February 2020 rather than March.  I guess we can file an amended return to correct the ending date?

KMACK

[sjrcpa]

Or argue reasonable cause to get out of the penalty.

Or ignore it since the corp is dissolved and no one is personally liable for this penalty.