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April 9, 2025
Question

S-Corp refunds for owners

  • April 9, 2025
  • 1 reply
  • 0 views

Our company had a large profit last year so the two partners have a large tax bill to pay as well as large estimates during 2025.  If we have a large loss in 2025, will the owners get refunds in 2026 due to their high tax bills in 2025 (for 2024 profits)?

Thanks

1 reply

April 9, 2025

Yes. Since the estimated taxes are based on the previous year's income, it is likely all or a portion of the estimated taxes would be refunded if there were significant losses sustained in the following year.

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