One way they can do this is by filing their taxes as an S-corp. To do this, they must fill out Form 2553. But all this flexibility comes from within an incredibly rigid and convoluted bureaucratic ...

To be eligible for S corporation tax benefits, the small business must complete and submit Form 2553 to the Internal Revenue Service. The business is not permitted to take advantage of pass ...

An S corporation may now have more shareholders because certain family members may be counted as a single shareholder. When an LLC files form 2553 to elect S status, the form serves as an election to ...

While an LLC is by default a pass-through entity, pass-through taxation as an S Corp is handled a little differently—more on that later. An LLC or corporation must file Form 2553 (election by a ...

Naturally, the LLC or corporation must meet the IRS's eligibility requirements and file Form 2553, "Election by a Small Business Corporation." If you have clients who revoked their S corp tax status ...

The IRS has issued a private letter ruling on section 1362 stating that the termination of taxpayer’s S corporation election was inadvertent. Taxpayer is granted permission to make an election ...

Changing a regular corporation, or C corporation, to an S corporation requires you to make a tax election with the Internal Revenue Service that places the corporation under the tax provisions of ...

A Houston-based legal and tax services provider is offering a digital platform to support business owners as they file form 2553 - the paperwork necessary to complete the S-Corp election.

A business created as an S corp must meet all federal guidelines for an S corp and file Form 2553.To be eligible for S corp election, the business must: An S corp is a business structure and tax ...