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Case of the Cat House Tax Return by Charles Selcer, CPA
Schechter Dokken Kanter, CPAs
Originally published in the December 2008/January 2009 Footnote Nicole Mine and Pete Bogg
own 56 percent and 44 percent,
respectively of Meuwiatt Hotels
Inc., a chain of upscale feline
boarding houses where the elite
park their kitties when they
are on vacation. Pete is not
employed at the corporation
but believes that Nicole is running personal expenses
through the company. Therefore, Pete called Hans N.
Franz, the company CPA, and asked for a copy of the
corporate tax return. Q: | Does Hans N. Franz have to provide the return to Pete? | A: | No. If Hans previously provided the tax return to Nicole,
the majority shareholder, who was designated as the
person to receive the tax return, he has no obligation to
release the tax return to other shareholders.
(See ET 591.377-378)
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