NY S Corp. payroll



We are a small company that incorporated and filed for S
status late last year. It all became official in September,
and for our 2003 taxes there was no payroll and very little

I expect that this year, without paying salaries, we will
essentially break even or possibly show a very small profit.

Will the situation of 2 tax returns without any payroll cause problems or raise
any red flags with the IRS? Trust me, I would love to draw a salary but it
likely won't be financially feasible until next year.

thanks for your help


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