Level 13
01-27-2023
10:14 AM
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Assuming you file what needs to be filed with the IRS, revoking your S Corp election is doable.
Unfortunately I do not work with PS for my corporate needs. I use UltraTax.
I've never had a client revoke their election once elected.
There are some rules re: bouncing back and forth. Make sure the client is aware of this.