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Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 7428
Experience:  15years with H & R Block. Divisional leader, Instructor
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I have a notice from the IRS that I did not file a 2553 form.

Resolved Question:

I have a notice from the IRS that I did not file a 2553 form. As far as I can tell the attorney never filed it but for the last 9 years I submitted my tax returns as a sub S corp. What do I do?
Submitted: 10 months ago.
Category: Tax
Expert:  Robin D. replied 10 months ago.

Robin D. :

Hello and thanks for trusting me to help you today. I am a tax adviser with over 15 years of experience.
You stated " As far as I can tell the attorney never filed it...", to qualify for relief from the late filing of Form 2553, the corporation must meet all these criteria:



  • The corporation meets the S-Corporation eligibility criteria,

  • The corporation intended to be classified as an S-Corporation as of the intended effective date of the S-Corporation election,

  • The corporation failed to qualify as an S-Corporation solely because it did not file Form 2553 in a timely manner,

  • Less than 24 months have passed since the original due date of Form 2553,

  • The corporation either has reasonable cause or inadvertently failed to file Form 2553 in a timely manner,

  • The corporation has not yet filed tax returns for the first tax year for which it intended to file as an S-Corporation, or the corporation has filed its first tax return using Form 1120S and the shareholders properly reported their share of income in a manner consistent with the corporation's intention to be an S-Corporation,

  • Form 2553 is filed not later than 6 months after the due date (without regard to extensions) of the first tax return for which the corporation intended to file as an S-Corporation, and

  • Shareholders and other taxpayers have not reported their income in a manner inconsistent with the corporation's intention to file as an S-Corporation.






Robin D. :

You need to find out if the 2553 was filed or not for sure.

Customer:

it was not filed

Robin D. :

Then the IRS will not grant a relief and your S corp filings will need to be amended

Robin D. :

Do you have a CPA?

Customer:

yes I do. can I file a private letter ruling?

Robin D. :

Yes you could do that. As your situation would not fit into the relief procedures listed.

Customer:

Can my acct. do that or do I need an attorney

Robin D. :

Your CPA would be able to handle that

Robin D. :

Have you been using the same for past years (CPA that is)

Customer:

thank you

Customer:

yes I have

Robin D. :

Then they will have all they woudl need to do thsi for you

Robin D. :

would this ** Sorry

Customer:

thank you

Robin D. :

You are most welcome.
Your positive rating is always thanks enough.

Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 7428
Experience: 15years with H & R Block. Divisional leader, Instructor
Robin D. and 4 other Tax Specialists are ready to help you

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