For late filed Form 2553 procedures, check here: • IRS Form 2553 Late Filing Procedures ...
This video covers the following topics:
1. What entities are eligible to make the election?
2. Why would an entity want to make an "S" corporation election?
3. Which fields should be completed and when to file?
4. Late filing procedures under Rev. Proc. 201330.
5. How does it change income tax reporting for the entity postelection?
Other videos covering entity classification elections:
• Entity Classification Elections (Form...
For more 2022 tutorials on Form 1120S, please see the following playlist:
• Form 1120S (S Corporation) Tutorials
For other form tutorials that might be applicable to your new S corporation, check our videos here:
S Corp Health Ins: • How to Deduct Health Insurance for S ...
Schedule B1 Disclosure: • Form 1120S Schedule B1....Disclosur...
Form 8869 Q Sub Election: • How to Prepare IRS Form 8869 Qualif...
How is Income Allocated? • How Is Income Allocated for an S Corp...
S Corp Debt Forgiveness: • S Corporation Debt Forgiveness Is i...
S Corp Restricted Stock: • S Corporation Restricted Stock Disclo...
Deducting Business Gifts: • Can Business Gifts Be Tax Deductible?
Did your S corp election terminate? • Inadvertently Terminate your S Corpor...
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