Late S-Election by LLC - Spidell

Late S-Election by LLC

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Message Board Late S-Election by LLC

  • This topic has 1 reply, 2 voices, and was last updated 3 months ago by David Ellis.
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    • #257553
      Melissa Meier
      Participant

      If an LLC that was formed in January 2020 wishes to be taxed as an S-Corporation (beginning in January 2020) but did not timely file Form 2553, do we now have to file both Form 8832 and Form 2553? Or can we just file Form 2553 and request late election relief? Thanks!

    • #257891
      David Ellis
      Participant

      I have been in this situation several times and just filed the 2553 with no problem…..you have to be sure to file that 8832 when you are going from a LLC to a C Corp…..otherwise you are dead in the water.

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