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2553 Election
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sharpcougar
Level 3
03-30-2021
09:04 PM
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ProSeries community - Here are the facts:
1. Company incorporated in 2017. Intention from the onset was to be treated as S Corp.
2. Sole owner of company operated under schedule C from 2017 through 12/31/2020.
3. There was 0 activity in corporation and no EIN was created.
4. Owner just applied for EIN last month.
5. Owner wants to be treated as an S corporation but it's been more than 3 years and 75 days.
Do we file as a C corp for short year 2017, 2018, 2019 and then -- make the election with 2020 with form 2553 attached? all returns will have zero activity. Owner will have a lot of activity in 2021 and when we file 2021 return then that will be second year as S corp. Thoughts?
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1 Comment 1
qbteachmt
Level 15
03-31-2021
12:11 PM
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2 sort of negates 1. Did they run payroll?
3 sort of negates what they consider to be "start date."
4 sort of negates everything else.
In other words, are you sure this corporation existed or exists?
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