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In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
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- S-Corp accepted in first year and rejected in second year
S-Corp accepted in first year and rejected in second year
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jmass
Level 2
10-28-2022
02:10 PM
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I have 2 S-corps that had been accepted in their first year filing as S and rejected in following years as S ( so I paper filed them )
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TaxGuyBill
Level 15
10-28-2022
03:42 PM
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Did they make the late election, and the 8832 was attached to the first year?
If so, that election allows it to be e-filed even though the IRS computers don't recognize it as a S-corporation.
In the following year, the rejection likely means the IRS computers don't recognize it as a S-corporation. Have they received the acceptance letter that it is a S-corporation?
