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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16576
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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My SCorp was dissolved by the State in 2010 because I had not

Customer Question

My SCorp was dissolved by the State in 2010 because I had not filed my return. I never cancelled the SCorp with the IRS on a Federal Level and am in the process of doing late filings for 2010, 2011, 2012. My question is, if I had never dissolved it with the IRS is the Scorp still considered a viable entity that I can use on these returns?
Submitted: 3 years ago.
Category: Tax
Expert:  Megan C replied 3 years ago.

MyVirtualCPA :

Hello! I am a CPA here to assist you with your tax questions. My goal is to provide you with excellent service today.

MyVirtualCPA :

The IRS has ruled that even though an S Corp is administratively dissolved by the state, it does not lose its status with the IRS

MyVirtualCPA :

PLR 2012-37-001

MyVirtualCPA :

So, yes - you can still use the S corp status on your return.

MyVirtualCPA :

Private letter rulings are only used by the taxpayer that requested them, and this was a private letter ruling. You may want to secure your own PLR with the IRS - to get one work with a tax pro who will request one on your behalf.

MyVirtualCPA :

So, to be sure in your sitaution that you can continue to use your S Corp status, you should secure a PLR.

MyVirtualCPA :

Do you have further questions about this matter?

MyVirtualCPA :

You can read more about this, HERE

MyVirtualCPA :

Do you have any further questions? If not, please rate my response as "excellent" so that I may receive credit for assisting you today

Expert:  Megan C replied 3 years ago.
Thanks, Jack for the opportunity to assist. I see you had trouble with live chat. If you would, please review my response. If you have further questions, please reply below. Otherwise, please rate as "excellent" so that I may receive credit for assisting you today.