Janice2402
Junior Member
Hello,
I have an s-corp in IL. A company notified me claiming that they overpaid my company nine months ago. They notified me I am to pay them back. I do not believe they are correct in their assessment, but they are staying firm with their claim that they accidently overpaid by a couple thousand dollars. Unfortunately, this was 9 months ago, I already closed the books on '10, paid the taxes, and tossed out the pay stubs...so I do not have much documentation. I am not doing much with the scorp at the moment, I am thinking about simply closing the biz to protect myself from litigation. Am I correct in that assessment? If the business is closed, then what is their recourse? I am surprised that 9 months later, they are claiming this...what would you do?
Thanks,
JaniceWhat is the name of your state (only U.S. law)?
I have an s-corp in IL. A company notified me claiming that they overpaid my company nine months ago. They notified me I am to pay them back. I do not believe they are correct in their assessment, but they are staying firm with their claim that they accidently overpaid by a couple thousand dollars. Unfortunately, this was 9 months ago, I already closed the books on '10, paid the taxes, and tossed out the pay stubs...so I do not have much documentation. I am not doing much with the scorp at the moment, I am thinking about simply closing the biz to protect myself from litigation. Am I correct in that assessment? If the business is closed, then what is their recourse? I am surprised that 9 months later, they are claiming this...what would you do?
Thanks,
JaniceWhat is the name of your state (only U.S. law)?