late election of s corp. for prior years

[Gemator]

Under the TCJA of 2017, there are advantages for converting c corp. to s corp. The 20% QBID and bonus depreciation for instance. Is it still possible to file late election of s corp. from c corp. for 2018 and 2019 and then amend  the tax returns to claim for more deductions?

[sjrcpa]

You need a good reason for a late election to be accepted. I don't think "the tax law changed and I didn't pay attention" will cut it.

[Gemator]

Thanks so much.