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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 11569
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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I need to confirm an s-corp election with the irs. Was on

Customer Question

I need to confirm an s-corp election with the irs. Was on the phone for 3 hours without success. Any suggestions how to quickly get this info?
Submitted: 1 year ago.
Category: Tax
Expert:  Lane replied 1 year ago.

Hi,

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Did you call the Business & Specialty Tax Line at(###) ###-####?

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Hours are 7 to 7

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Also IRS says they will send a letter confirming approval within 60 days.

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A couple of tips for you (I've been in practice for 30 years, and can tell you, FROM that experience that this is important);

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(1) Do not contact the IRS for a copy of Form 2553 until two months have passed since the form was first filed ... and if you checked Box Q1 (part II) for a specific fiscal year based on business purpose, do not contact the IRS for a copy of Form 2553 until five months have passed since the form was first filed.

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(2) The IRS might question whether Form 2553 was filed. If this happens, you must provide proof of your filing. Acceptable proof of filing includes the following: (a) a certified or registered mail receipt timely postmarked from the U.S. Postal Service, or its equivalent from a designated private delivery service or (b) an IRS letter stating Form 2553 has been accepted.

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This is the ONLY option for taxpayers and tax prepares that are not authorized to practice before the IRS.

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The only other option is to work with a tax attorney, EA or a CPA who IS authorized and has special access.

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The BEST practice here is to hang in there on the business line, tell the representative that you need a copy of your corporation's Form 2553, give the representative your company's name, address and Employee Identification Number, as well as your name and position within the company, (they will verify that information), and ask to have the copy faxed (a mail deliver can take 30 days - their fax will arrive withing 24 hours.

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Hope this helps

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lane

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I hope you'll rate me positively, using the stars on your screen … (that's the only way we get credit for the work here) … based on thoroughness and accuracy, rather than any good news/bad news content ... Hopefully, having all the facts will help you "see around some corners."

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Expert:  Lane replied 1 year ago.

Hi,

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Did you see m y answer?

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Let me know

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Lane