Hi to all and @TaxGuyBill
Can I E-file 2533 late election (Filed Pursuant To.....) and 1120-S if I attached 2553 as pdf to 1120-S? Reason I asked you because I remembered when I called IRS for 2553 in the past they said should mail along with 1120-S and mentioned both top of its margin , Filed Pursuant....If should it be mailed, what form should file for reason of mailing?
Also, on page 1-2 of 1120-S I added with Ctrl+D above of the U.S. income tax return this statement : Filed Pursuant To.... but it has become red but when I go to E-File mode, I can e-file it with no error.
Any help would be appreciate it.
I would first check if it qualifies for the late election. Quite often, they don't qualify.
I don't have any first-hand experience, but I think I've read it is common to e-file with the election attached as a PDF.
Yes, enter that statement on the top. In the event that ProSeries won't e-file it due to the 'red' error, you can try it again by disabling error-checking.
I've had to file two late elections this year. First client - prior CPA never mailed it in. Second client said they mailed it but no approval letter (after a year) and reject on extension due to entity mismatch. How to is very clear in the 2553 instructions. I called the IRS and they said taxpayer must mail in a paper return along with the 2553. Who am I to second guess the IRS????
It would be nice if we could just call the IRS and they tell us - yes, the S corp election is pending. But in reality, if we don't have the approval letter it hasn't been worked on. In my case I proceeded on the 1040 as if it had been approved. Since they don't seem to match K-1's (sometimes never, other times years) I figured if questioned, by the time they question the approval should be complete.
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