IRS Form 2553 is the tax form you must file if you want to elect S corporation status for your business. This form essentially tells the Internal Revenue Service (IRS) that you want your small business corporation to be taxed as an S corp (we’ll get into what this means below). What...
If the S corporation is unable to file its tax return by the deadline, it can request an automatic six-month extension by filingForm 7004by the original due date. For calendar-year S-corps, this pushes the deadline to September 15. The due date for Schedule K-1 forms is also delaye...
So, if your business is structured as a partnership and you want to elect corporate tax status, you would use Form 8832. Form 2553 is specifically for traditional corporations that want to elect S corporation tax status. Business entities are not required to elect a tax status, as the IRS ...
Form 2553:Businesses useForm 2553, Election by a Small Business Corporation, to elect S corporation status. Form 8832:Businesses useForm 8832, Entity Classification Election, to choose how their entity will be classified for federal income tax purposes. Income tax forms Income tax forms are used ...
Form 2553:Businesses useForm 2553, Election by a Small Business Corporation, to elect S corporation status. Form 8832:Businesses useForm 8832, Entity Classification Election, to choose how their entity will be classified for federal income tax purposes. ...
Form 720 | Form 940 | Form 941 | Form 944 Form 1040 | Form 1065 | Form 1099 | Form 1120 Form 1120-S | Form 2553 | Form 4562 | Form 7004 Form 8829 | Form 8832 | Form SS-4 | Form W-2 Form W-3 | Form W-4 | Form W-9 | Additional resources...
S corps must file Form 1120-S and distribute Schedule K-1 to shareholders, reporting income, deductions, and credits. Staying compliant requires accurate recordkeeping and timely filings. File an S-Corporation Election for Just$49 Let us help you elect S Corporation tax status. ...
If you satisfy these three requirements, then you can file Form 2553 to elect S corporation treatment by the IRS. When you do, the business is then subject to a different form of taxation than typical corporations. S corporation taxation ...
LLC or Corporation Formation (includes consultation and initial filings to register with state & EIN, S-Corp election) start at $450+state filing fees. Completion & Filing of S-Corp Election Form 2553 (Only) $250. Testimonials Greg is a great accountant and a person who cares about your ne...
Corporation or LLC electing corporate status on Form 8832 or Form 2553 11. Association, club, religious, charitable, educational, or other tax-exempt organization 12. Partnership or multi-member LLC 13. A broker or registered nominee 14. Account with the Department of Agriculture in the name of...