Discussion:2553 filed with return?
From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.
From TaxAlmanac
Discussion Forum Index --> Basic Tax Questions --> 2553 filed with return?
Discussion Forum Index --> Tax Questions --> 2553 filed with return?
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. | |
| 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? | |
| 8 April 2008 | |
| I highly doubt it, since they need a signature from the shareholders. | |
| 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? | |
To join in on this discussion, you must first
log in.
