06/16/2026
A client came to us with a 5-figure IRS balance related to pass-through income from an S-Corporation.
After reviewing the returns, we identified two issues:
• Depreciation from a large equipment purchase was not properly carried forward from year to year.
• A prior-year loss limited by shareholder basis was never tracked and carried forward as basis increased.
The result? The taxpayer was paying tax on income without receiving deductions they were entitled to claim.
We reconstructed the depreciation schedules, rebuilt shareholder basis, tracked the suspended losses, and corrected the affected returns.
The result was the elimination of a 5-figure tax debt.
Many tax problems are not caused by unreported income. They are caused by deductions, losses, credits, and carryforwards that were never properly tracked.
Before assuming you owe what the IRS says you owe, make sure the tax returns are correct.
If you have an IRS balance due, unfiled returns, or questions about prior-year tax filings, start with a Case Analysis.
We’ll determine:
✔ What returns should be filed
✔ Whether the balance is accurate
✔ What deductions, losses, or credits may have been missed
✔ What resolution options are available
