TaxGuyBill
Level 15
09-05-2023
07:57 PM
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Just a few questions that you may consider to verify that they qualify for the late election:
Is this a corporation or an LLC? Was an extension filed for the 1120-S? Is this a calendar year return?
And as Susan asked, do they have "reasonable cause" for not making the election on time, and why has it not been filed until now?