In 2006, three of us started and are equal shareholders in an s-corp. There are no other employees and we all worked for the corp. We lost money in 2006. The loss does not count any wages paid to the three of us - because there were no wages paid. I now know that we were supposed to pay ourselves and issue W-2s. I did not know that at the time. Since we lost money and there was no money to pay ourselves, do we need to correct the no-wage problem? We can't say we paid ourselves when we didn't, can we? All the information I can find is related to reclassifying pass-thru profits as wages and we had no profit. We may shut down in 2007. If we continue, we'll figure out how to pay ourselves. We DID file an extension before March
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