Late S-Corp Election

Forum|Forum|3 years ago
May 4, 2023
2 replies
38 views

S-Corp elections was not filed on time. How do I go about filing a late S-Corp election with the first year tax return?

I have read this needs to be included at the top of the tax return "FILED PURSUANT TO REV. PROC. 2013-30.". I entered in the reasonable cause sections that the company's president neglected to file form 2553 on time and he did not know advanced notice was required. Is that all that needs to be included? Are there other steps to assure the election is approved?

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Y

yeknodAuthor

Level 5

Also, can it be electronically filed? Or does it need to be mailed in?

T

TaxGuyBill

Level 15

It sounds good. It can be attached to the e-filed tax return.

Just to check - was an extension filed (so it is still timely-filed)? Is this a Corporation or an LLC?

Y

yeknodAuthor

Level 5

It is a Corporation.

The extension was not filed due to it mistakenly being setup as a LLC with the IRS at first. That was not discovered until after the extension due date.

What about the signatures of all the officers of the corporation?

ljr

Level 9

I tried to e-file an extension for an s-corp that sent in the form late and has not received a response from IRS yet. Extension rejected with error not correct corp type. I don't know if the actual return will efile with the form. I tried attaching it to the extension and it didn't work.

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