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CAN AN LLC ASK FOR A "LATE ELECTION RELIEF" ON FORM 2553
CAN AN LLC ASK FOR A "LATE ELECTION RELIEF" ON FORM 2553 EVEN IF THE LLC FILE TAX AFTER MARCH 15 (S-COPP. DUE DATE)?… read more
Barbara
Barbara
Enrolled Agent, Paralegal
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Can taxpayer attach form 2553 (for his late s-corp election)
Can taxpayer attach form 2553 (for his late s-corp election) if he file the s-corp return after March 15?… read more
Tax.appeal.168
Tax.appeal.168
Principal
7,892 satisfied customers
I have C Corp with about $ 100K in profit for 2019. Can I
I have C Corp with about $ 100K in profit for 2019. Can I elect a late S Corp election to start effective 1.1.2019 if I file 2553 by March 15, 2020 and file an extension as an S Corp for 2019? Or is t… read more
Carter McBride
Carter McBride
Certified Public Accountant (CPA)
LLM
6,215 satisfied customers
Question about the form 2553 - I registered a C corp in
Question about the form 2553 - I registered a C corp in March, 2019. I like to file taxes through S Corp. When should I file form 2553 to become a S corporation? I am hoping to have it take effect thi… read more
Barbara
Barbara
Enrolled Agent, Paralegal
15,944 satisfied customers
If I form a single-person LLC S-corp (using 2553 to file
If I form a single-person LLC S-corp (using 2553 to file taxes annually with a personal W-2) this week, does that LLC-ness only go into effect next tax year 2020? Or immediately, since I'm setting up … read more
Tax.appeal.168
Tax.appeal.168
Principal
7,892 satisfied customers
1120 or 1120-S Extension: Client (new on 3/8/19) paid an
1120 or 1120-S Extension: Client (new on 3/8/19) paid an attorney to establish a S Corp effective 7/1/2018. Went to file an extension for the 1120-S. It was rejected as the IRS is expecting an 1120 (C… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
36,167 satisfied customers
I had Incorporated last year, I do home physical therapy, i
I had Incorporated last year, I do home physical therapy, i contract my work out to 2 companies, I have filled out my company taxes: on a 1065 form, and listed my car milage as an expense, along with … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,125 satisfied customers
Can you provide details on how to set up an s corp? I have
Can you provide details on how to set up an s corp? I have an llc is it easier to convert that or start from scratch on the s corp? Is there any downside to having an s corp verses an llc?… read more
ABC Accounting Group
ABC Accounting Group
Bachelor's Degree
963 satisfied customers
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, MBA, CFP, CRPS
Doctoral Degree
19,381 satisfied customers
Can a C corp(personal service corp) still file a 2015 form
Can a C corp(personal service corp) still file a 2015 form 1120S and attach a form 2553 and site a late relief election on the forms or are we past the deadlines??… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,539 satisfied customers
If an LLC partnership elects to be taxed as an S-corp on
quot;For Lane"If an LLC partnership elects to be taxed as an S-corp on 1/22/15 does the partnership need to file a 1065 for the first 22 days of the year and an 1120s for the remainder, or just an 112… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
19,381 satisfied customers
We started to run business as c corp on 01/15/12 and will elect
We started to run business as c corp on 01/15/12 and will elect to be S corp effective as of 09/15/2012. In this case, do have to file both 1120 (1/15/12-09/14/2012) and 1120s(09/15/2012-12/31/2012) f… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
36,167 satisfied customers
i had a client who was an llc in 2010 and i filed them a late
i had a client who was an llc in 2010 and i filed them a late s election under revenue procedure 2003-43 on 09/07/11 and they mailed their return before 9/15/2011 i attached the 2553 to the return sin… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
I formed a Florida LLC, single member, in June 2011. I did
I formed a Florida LLC, single member, in June 2011. I did not file the 2553 for s-corp election but had intended to elect to be taxed as an s-corp. What can be done at this point for my 2011 taxes? I… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
3,116 satisfied customers
The irs somehow didnt get my original business return for 2009.
The irs somehow didnt get my original business return for 2009. In that return we (2 partners and I) also included our 2553 form to elect to be an S Corp. Anyway our 2010 return just got kicked back b… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
I have a C corp formed in 04/2011 and did not start doing business
I have a C corp formed in 04/2011 and did not start doing business until 9/2011. I want to switch it to a S corp effective this tax year. I have not made any money yet but i have many business expense… read more
CGCPA
CGCPA
Owner
Bachelor's Degree
3,815 satisfied customers
ON TAX FORM 1120S PAGE 1 LINE G. IS THE CORPORATION ELECTING
ON TAX FORM 1120S PAGE 1 LINE G. IS THE CORPORATION ELECTING TO BE AN S CORPORATION BEGINING WITH THIS TAX YEAR. ANSWER IS YES. CAN I FILE FORM 2553 AT THE END OF THE YEAR PURSUANT TO REV. PROC. 2007 … read more
Stephen G.
Stephen G.
Sr Financial & Tax Consultant
Bachelor's Degree
8,125 satisfied customers
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
2,885 satisfied customers
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