IRS Now Allows Late S-Corporation Election Filing
The IRS has improved the procedure for electing S-Corporation status after the filing date for the S-Corporation Election Form (Form 2553) has passed. If you can show reasonable cause for why the election is late it is now easier to obtain S-Corporation Status after the deadline. Information on the change can be found here.
For more information on how an S-Corporation is organized and the differences between entity types see our page on choosing an entity.
Related posts:
- Proposed Changes to S-Corporation Law The Congress is proposing some changes to the law that governs S-Corporations including: changes to the way “Passive Income” is...
- Start a Non-Profit Corporation Wikihow.com: Have you always wanted to leave the world a better place than you found it by starting a nonprofit...
- Planning Early for 2010? MyNewCompany Launches Delay Filing Option. Are you planning on starting a Corporation or LLC that will not be doing any business in 2009? This is...
- “Reasonable” Compensation for S-Corporation Owners Good article on why S-Corporation owners should pay themselves a “reasonable” salary and not simply take all earnings as “Distributions”....
- Starting a One Person Corporation (or LLC) BusinessWeek has an article about starting a one person corporation. The reader’s question is about setting up a corporation instead...
