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Election by a Small Business Corporation or IRS Form 2553 has to be filed with the IRS if a business owner wants to switch the status from C Corporation to S Corporation. The purpose of this switch is federal taxation. Why is Form 2553 Important? One of the most important benefits of For...
IRS Form 2553 can be a game-changer for the right company. The potential tax savings will undoubtedly pique the interest of many C corps and LLCs. But don’t jump into making an S corp election without careful thought and consideration. ...
To elect S-corp taxation for a corporation or an LLC, simply fill out IRS Form 2553. In order to be eligible for S-corp taxation, a corporation must meet several requirements regarding the nature of the business and the number and type of shareholders. ...
S-election form 2553 preparation and filing with the IRS (optional) Expert staff support to answer questions via email and phone Business credit and funding analysis to discuss solutions to building your business Form an S-Corporation for Free ...
Elect Your Company To S Corporation With Just a Few Clicks. Let our experienced team review and e-file your S-Corp election (IRS Form 2553) with the IRS and appropriate state agencies.
the Form 1120S — or have previously filed and had accepted by the IRS — Form 2553,Election by a Small Business Corporation. A Form 1120S is prepared for each S corporation shareholder to designate the percentage ofsharesowned by each. The IRS uses this information to determine the ...
Different business structures have distinct tax benefits and obligations. If you want to change your business's tax status, you'll need to file IRS Form 8832.
S corporations must make a timely filing of Form 2553 with the IRS. The form must be completed and filed any time before the 16th day of the 3rd month of the tax year in which the election is to take effect, or any time during the tax year preceding the tax year in which it is ...