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Had a C corp in California. Changed to an S corp in 2017
Had a C corp in California. Changed to an S corp in 2017 want to change back to a C corp. Can I? … read more
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If client wants to revoke S-Corp election, reverting to a disregarded entity (single-member LLC) does anything need to happen to the remaining stock basis that would affect his personal return? Also, … read more
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I have a single member LLC that had elected to be taxed as
Second opinion] I have a single member LLC that had elected to be taxed as an S Corp originally. I have sent a letter to the IRS and asked that the S Corp election be revoked (12/31/17) and completed … read more
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I need step-by-step instructions in completing an IRS form
Hello, I need step-by-step instructions in completing an IRS form 8802 for a single-member LLC that has elected to be taxed as an S-corp. Please help!… read more
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Question on how LLC can elect to be taxed as S Corp then
Question on how LLC can elect to be taxed as S Corp then revert back in the future if wanted. Specifically, an existing single member limited liability company wants to be treated as a S corporation f… read more
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I own a startup LLC, with an S-corp selection. In Sept of
I own a startup LLC, with an S-corp selection. In Sept of 2016 we added a 3rd shareholder which is an S-corp themselves. Therefore, we can no longer file as an S-corp selection. Our taxes will need to… read more
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Question for Steve G. Currently a single member LLC is taxed
Question for Steve G.Currently a single member LLC is taxed as a S corporation. I would like to revoke the S election effective as of 1/1 2017.Question: Is the LLC taxed as disregard entity (report on… read more
Mark D
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On 10/19/2015 a disregarded entity was started as an LLC in
On 10/19/2015 a disregarded entity was started as an LLC in Arizona. On 3/31/16 a Sub S partner bought into the business and forming a partnership. A previous Sub S Election on Form 2553 had been file… read more
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On 3/31/16 An S corp had shares purchased by another Sub S,
On 3/31/16 An S corp had shares purchased by another Sub S, thus terminating the Sub S status. As of 3/31/16 we should file a form 1120S and check the terminated box? Then file a 1065 for 4/1/16-12/31… read more
Mark D
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I have a client that has owns a building, it is an LLC with
I have a client that has owns a building, it is an LLC with 2 members. When the LLC was forms it was elected to be filed as an Scorp. We want to terminate the S election and revert back to a partnersh… read more
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I started an LLC last year. In August I filed form 2553 to
I started an LLC last year. In August I filed form 2553 to change to an S-Corp, but erroneously made the filing retroactive to 2014 instead of 2015. Is there a way to change this to remain an LLC - as… read more
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I have a S Corp who is still paying the IRS prior years payroll
I have a S Corp who is still paying the IRS prior years payroll withholding tax. She closed her payroll account in 2012 and has only been taking draws and no salary. I am going to discuss setting up p… read more
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Question pertains to a Virginia LLC structured as an S-Corp,
Question pertains to a Virginia LLC structured as an S-Corp, which has never had any revenue or expense activity since its inception. Filed 2012 1120S return, prior to March 15th with both boxes check… read more
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Our company, treated as S-corp for tax purposes for many years,
Our company, treated as S-corp for tax purposes for many years, reverted to C-Corp (termination effective 10/8/13), and now must file 2 short year tax returns for 2013 . On 10/7/13, our balance sheet,… read more
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This question is for Lev C Corp elects S Status in Feb 2014
This question is for Lev C Corp elects S Status in Feb 2014 effective 1/01/2014. 24 hours later realizes that as a mistake because of the Built In Gains tax and Revokes S Status effective 1/01/2014. I… read more
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When a newly formed LLC elects to be treated as a S corporation
When a newly formed LLC elects to be treated as a S corporation and then later in the same year terminates its election, does it file a 1120S for the portion of the year it was eligible and then a 112… read more
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I am requesting Steve Grizey, if available. I have a client
I am requesting Steve Grizey, if available. I have a client who requested/elected Sub S treatment of his single member LLC in 2012. Is there a way to de-request this election? I don't beleive it is in… read more
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When I convert from S-Corp to C, can I keep existing EIN?
When I convert from S-corporation to C-corporation can I keep my existing EIN number for the S-corporation? Also, do I have to dissolve the S-corp when it is converted to a C-corporation? If so, how c… read more
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