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Election of 'S' Corporation Status and Instructions - IRS 2553

Election of 'S' Corporation Status and Instructions - IRS 2553

Name: Election of 'S' Corporation Status and Instructions - IRS 2553
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.64 (233 reviews)

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Federal - IRS

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Multi-State

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US-IRS-2553

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Description 2553 Instructions

A corporation or other entity eligible to elect to be treated as a corporation must use Form 2553 to make an election under section 1362(a) to be an S corporation.

View A01 Application for Informal Appointment of a Personal Representative in Intestacy

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View A02 Letters of Administration

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View A03 Statement of Informal Appointment of Personal Representative

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View A04 Notice of Allowance of Claim

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View A05 Notice of Disallowance or Partial Allowance of Claim

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How to fill out Form 2553 Due Date?

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What Is A Form 2553 Form Rating

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Irs Form 2553 Instructions Form popularity

2553 Be Year Other Form Names

What Is Form 2553 Irs Forms 2020 Form 2553 Irs Form 8832 Vs 2553 Instructions Form 2553 Form 8832 Vs 2553 Form 8832 Or 2553 Form 8832 Instructions

Form 2553 Vs 8832 FAQ

You do not need to file Form 8832 unless you want your single-member LLC to be classified as an entity disregarded as separate from you (such as a corporation).

A. Employer identification number (EIN): Put your company's EIN here. B. Date incorporated: Write the date your business was incorporated or registered. C. State of incorporation: Enter the state where you formed your business. D. Check if:

If you're an LLC or partnership, use Form 8832 if you want to be taxed as a C-corp, partnership, or a sole proprietor. Meanwhile, Form 2553 is for LLCs or corporations that want to be taxed as S-corps. Keep this in mind: If you're filing Form 2553, you don't need to file Form 8832.

To elect Corporation status, the LLC must file IRS Form 8832 - Entity Classification Election. To elect S Corporation status, the LLC must file IRS Form 2553 - Election by a Small Business Corporation.

Filing options for IRS Form 2553 include mail and fax filing. You cannot file this form online.

The corporation should generally receive a determination on its election within 60 days after it has filed Form 2553. If the corporation is not notified of acceptance or nonacceptance of its election within 2 months of the date of filing the taxpayer should take follow-up action by calling IRS at 1-800-829-4933.

Businesses that want to change their tax classification to an S Corporation do not need to file Form 8832. Instead, they should file Form 2553. When a single-member LLC adds more members, the business will be taxed as a partnership.

This may take more time if you do not use the calendar year as your tax year. There is no fee to file Form 2553. However, special conditions may dictate a fee. For example, some businesses may be charged for using a non-traditional tax year.

Election of 'S' Corporation Status and Instructions - IRS 2553

Description 2553 Instructions

2553 Form Related forms

How to fill out Form 2553 Due Date?

Show more info

What Is A Form 2553 Form Rating

Irs Form 2553 Instructions Form popularity

2553 Be Year Other Form Names

Form 2553 Vs 8832 FAQ

Does a single-member LLC need to file Form 8832?

How do I fill out a 2553?

Do I need to file both 8832 and 2553?

How do I fill out Form S Corp 2553?

Can I electronically file Form 2553?

Can you file Form 2553 electronically?

How do I know if my form 2553 was approved?

Do I need to file Form 8832 and 2553?

Is there a fee to file Form 2553?

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