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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
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- Can I file form 2553 and elect Scorp at the same time I file my first tax return in Pro Connect?
Can I file form 2553 and elect Scorp at the same time I file my first tax return in Pro Connect?
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michelle-ecomm-
Level 1
10-14-2022
05:14 PM
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I am filing a return in Pro Connect for our firm. Can I make the S-Corp election on that first return within Pro Connect?
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TaxGuyBill
Level 15
10-14-2022
05:19 PM
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For 2021? Does it qualify for the late election?
PhoebeRoberts
Level 11
10-15-2022
02:23 PM
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Sometimes! There's a toggle that the IRS can set on their end, to either check the entity type against their database or to not check. If they aren't checking, the return will be accepted. If they are checking, the return will be rejected. No way to tell which way it's set other than to e-file.
Since a calendar year 1120S being filed now is delinquent, I suspect they're currently checking. It's usually turned off right before filing / extension deadlines.
