“The U.S. Government (and in fact any government or government agency) can’t legally own stock in an S corporation.  Through the seizure and forfeiture referenced in the email I received, the US Government became a shareholder in an S corporation and then triggered an immediate termination of the S corporation’s tax reporting status. Ouch. People might say, hey, that’s tough…a criminal gets what he or she deserves.  But the rub here is that the termination of the Subchapter S status doesn’t actually hurt the person who’s already forfeited the assets. The termination hits the remaining shareholders and the corporation.”

http://evergreensmallbusiness.com/asset-seizures-and-forfeitures-and-your-s-corporation/

Did you like this?
Tip Freedomwat.ch Staff with Bitcoin

Donate via Installed Wallet Copy