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Level 1
July 12, 2020
Question

If a company is not recognized as an s corp, will proconnect accept a companies 1120s?

  • July 12, 2020
  • 2 replies
  • 10 views
I submitted form 2553 for a client last year.  The client has moved several times since then and we have not received the s corp acceptance letter.  If i file an 1120s for the client, will the irs accept the efile even though the company might not be recognized as an s corp?
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2 replies

sjrcpa
Level 15
July 12, 2020

lt will get rejected if by the IIRS if IRS does not have an accepted S election on file (99.99% of the time. I've heard of a few cases where the issue arose years after filing S corp returns).

ProConnect doesn't know or care if it really is an S Corp.

The more I know the more I don’t know.
idawkrizman
Level 3
July 13, 2020

My client filed the paperwork and then submitted the S-Corp filing.  He also did not have a letter as he had moved.  On the S-Corp filing, he added comments explaining what was done.  Nothing was rejected and he received another letter confirming the election in the mail.