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Level 2
February 27, 2025
Question

LLC - status S Corp question

  • February 27, 2025
  • 2 replies
  • 8 views

My client formed an LLC in 2024 , filed 2553 to elect S Corp Status ,never received confirmation letter from IRS. She called IRS recently to confirm S corp status and IRS advised they could not find it and she should apply again. Question: is it ok to file Schedule C (1040) for her LLC for 2024 and send another 2553 by March 15th 2025 to elect S Corp status for LLC from 01/01/2025? There was no profit and minimum transactions in 2024. Also ,is there any chance to get confirmation from IRS that her LLC does not have S Corp status as of specific day. Last thing I want for my client to get penalized for not filing timely 1120 S. Please advise. Thank you 

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    2 replies

    IRonMaN
    Level 15
    February 27, 2025

    File a 2553 with the 2024 1120S.

    Slava Ukraini!
    Z23Author
    Level 2
    February 27, 2025

    Thank you for response.

    Do you think it will be accepted by IRS if we e file? 

    IRonMaN
    Level 15
    February 27, 2025

    Supposedly other folks had the returns accepted, but I don't have any personal experience to verify that.

    Slava Ukraini!
    qbteachmt
    Level 15
    February 27, 2025

    What about her payroll for 2024?

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