I have a new customer that their old preparer helped them form an LLC. The old preparer has ghosted them since 2022. I have their CP 575 letter from IRS showing 1120 needed to have been filed April 2024 but have also found 2553 requesting to changed to S-corp. The taxpayer does not remember received a letter from IRS for acceptance only has the documents given by the preparer. Do I assume S-corp status was accepted? I need to file first and final return for them for 2023
Rambling I know. Sorry. Monday. Happy St. Patrick's Day!
The quickest way to find out if the IRS recognizes the sub S status is to try filing an extension for the 1120S. If it bounces, you know what the status is.
Everybody normally gets one get out of jail free card.
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