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First year LLC, sole member, filed first year return for
First year LLC, sole member, filed first year return for 2017 electronically and sent in Form 2553 requesting to be taxed as S-Corp via fax. They have received IRS notice that the 1120S can not be pro… read more
Barbara
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I have a question regarding IRS Form 2553. I am a new LLC
I have a question regarding IRS Form 2553. I am a new LLC wanting to elect for S-Corp status … read more
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I'm in process of filing a form 2553. (Election of S corp.) My question is have I missed the dead line to file for the current calendar year? Just got my articles of corp as of Nov 2017 … read more
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Tax Question - New corp - failed to file S election and extension request. In your experience, is it best to file Form 2553 and request relief or go ahead and file an S corp tax return and request rel… read more
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I have a Nevada resident who called me on 30 Jan 2018 and
I have a Nevada resident who called me on 30 Jan 2018 and wants to pay himself W2 income for 2017 so he can get a loan approved for a house. He has been paying himself all year by simply transferring … read more
LEV
LEV
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This question is for Lane... I have an LLC in Texas and I'm
This question is for Lane... I have an LLC in Texas and I'm the only member. Right after forming the LLC (2015) we asked for and were classified a C Corp for Federal Income tax purposes. I have been t… read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
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I had a client who had been mis-advised by an earler tax
I had a client who had been mis-advised by an earler tax "pro" who failed to incorporate him when he formed an LLC mid 2016. I did a 2553 election with reasonable cause and filed his tax return in lat… read more
taxmanrog
taxmanrog
Master's Degree
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I've had an inactive single member llc since October 2016. I
I've had an inactive single member llc since October 2016. I didn't file the election to make it an s-corp. I am now preparing to operate under the llc. Is it too late for me to make it an s-corp? … read more
Lane
Lane
JD, CFP, MBA, CRPS
Doctoral Degree
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Corporation Tax :S-Corp election My Corporation was
Corporation Tax :S-Corp electionMy Corporation was incorporated on 10/10/2015.Its a C Corporation.I am the sole owner of it/the only shareholder. Im ready to file the Corporation's First Tax Return. I… read more
keeperumiami
keeperumiami
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I have an American Citizen with French husband and brother
I have an American Citizen with French husband and brother in law. They started a business last year as an LLC. The lady took 55k as income last year. They have a viable product and expect to make goo… read more
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If an LLC elects to file as an S corp in 2013 do they have
If an LLC elects to file as an S corp in 2013 do they have to file as an S corp in 2014 or can they revert back to single member LLC for filing taxes?… read more
LEV
LEV
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A friedn of mine set up company as single member llc but he
A friedn of mine set up company as single member llc but he wants to get paid for salary as w-2. In this case, should he change compnay type or is it okay that sinlge member get paid as w2? He dose no… read more
Robin D.
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what is the deadline to file IRS form 2553 to elect S-corp
what is the deadline to file IRS form 2553 to elect S-corp taxation status after forming and LLC? What else does the business owner need to do in order to make the LLC compliant with rules of running … read more
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JD, CFP, MBA, CRPS
Doctoral Degree
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Company thought they had elected to be S Corp when in fact
Company thought they had elected to be S Corp when in fact they did not. 2011 1120S was filed electronically on 9/17/12, (they had an extension), it was rejected by the IRS. The reason stated was that… read more
fastfile
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I want to ask more questions. Is there a way to go back and
I want to ask more questions. Is there a way to go back and get a PLR if there was a mistake in the original form and it was not accepted some years back. So the company would go from Parntership retu… read more
Jax Tax
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Master's Degree
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MY COMPANY FILED FORM 1120s FOR TAX PERIOD 12/31/07; HOWEVER
MY COMPANY FILED FORM 1120s FOR TAX PERIOD 12/31/07; HOWEVER IRS IS STILL SHOWING MY COMPANY TO BE A C CORP WHEN IN FACT IT IS SUPPOSE TO BE AN S CORP WHICH REQUIRES A FORM 1120S RETURN IRS TELLS ME T… read more
Merlo
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I set up a small corporation and failed to submit ...
I set up a small corporation and failed to submit FORM 2553 to give it the S corp tax benefits. The corporation grossed less than $90,000 this year and paid most of that out in wages and other expense… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
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Starting a small business - Chapter S Election / Taxes
Formed an North Carolina Corporation on 8/24/05. Intended to start our small business in 2005. Due to many different problems, the we were delayed in starting and now want to get going. After reading … read more
RD
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