Form 2553

3 replies
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Does Form 2553 still need to be filed by fax/mail? So when the 1120S is e-filed, form 2553 isn't included?

Thanks in advance for the help.

ProSeries Professional

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T

TaxGuyBillAnswer

@knowyourrole wrote:

This is an initial return. I'm asking if the Form 2553 would be e-filed with the return, since I saw other answers here saying you have to fax/mail the 2553 separately since it's not able to be e-filed

My comment is pretty much the same as before. The election was probably due a long time ago (unless the entity was formed in December). Do they qualify for the late election?

The 2553 is not a stand-alone e-file. But it can be attached to the tax return. Whether or not the IRS actually processes that election might vary. But your client would need to qualify for the late election because the election was due 2.5 months after the entity was formed.

T

TaxGuyBill

The 2553 is usually supposed to be filed long before the 1120-S is filed.

Is this a late election, and do they actually qualify for that late election? If so, it can be filed with the tax return.

K

knowyourroleAuthor

Level 3

This is an initial return. I'm asking if the Form 2553 would be e-filed with the return, since I saw other answers here saying you have to fax/mail the 2553 separately since it's not able to be e-filed

T

TaxGuyBillAnswer

@knowyourrole wrote:

This is an initial return. I'm asking if the Form 2553 would be e-filed with the return, since I saw other answers here saying you have to fax/mail the 2553 separately since it's not able to be e-filed

My comment is pretty much the same as before. The election was probably due a long time ago (unless the entity was formed in December). Do they qualify for the late election?

The 2553 is not a stand-alone e-file. But it can be attached to the tax return. Whether or not the IRS actually processes that election might vary. But your client would need to qualify for the late election because the election was due 2.5 months after the entity was formed.

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