Discussion:2553 filed with return?

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Discussion Forum Index --> Basic Tax Questions --> 2553 filed with return?

Discussion Forum Index --> Tax Questions --> 2553 filed with return?

WBR (talk|edits) said:

4 April 2008

After reading the various posts regarding S-Election and instructions to form 2553 I would like some one here to confirm my thoughts. I have a new client who is going to file an 1120S as an initial return. My hunch is that no S-Election has been made yet. I was planning on attaching the form 2553 to the return. Return has been extended. On the S-Election do I still need to show a reasonable cause for the late election? And do I need to show a Rev. Proc. In the explanation for late filing?

Thanks in advance

P.S. client has no clue if the S-Election was made.

Captcook (talk|edits) said:

4 April 2008
You have to show the Rev Proc on the top of the 2553. New Rev Proc 2007-62 allows 2553 to be filed with first 1120S. I understood that an explanation still must be included. I just did this last week.

Downrivercpa (talk|edits) said:

7 April 2008
Can 2553's be efiled with the return?

Captcook (talk|edits) said:

8 April 2008
I highly doubt it, since they need a signature from the shareholders.

Eric1032 (talk|edits) said:

7 April 2010
i use proseries pro and it allows me to efile 1120s with form 2553 attached. i was wandering the same thing if IRS would allow efiled form 2553 since shareholders did not sign. i would think proseris pro would put that as an error on the diagnostics but it didn't. anyone has success story?

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