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Keep in mind that if you retroactively discover a disqualifying event, that triggers a filing requirement for the S-corp part-year return. So if the return is filed after that due date, the per-shareholder penalties kick in.

Rita lives in my state, not too far away and I've known her for several years. I'll take all the hugs she is willing to give out!

@Randall - you can try; it's not like an attempt is going to hurt. Blame the taxpayer for sending in paperwork without understanding what he was doing. I'm sure they've seen a ton of idiotic filings from taxpayers who were clueless and acted on their lack of knowledge. If they say no, you are no worse off than before.

You guys are full of good news. I was wondering if a request for a waiver of the 75 days (March 15) requirement would work. Since 2017 is the first year and no returns have been filed yet, I'm hoping they'll approve.

Take a c;lose detailed look at the original circumstances of the election and look for something that disqualifies the original election.

She'll let you live - THIS time. But if @RitaB offers you a hug, watch out!

I wish so much that folks who don't know how to use bookkeeping software just wouldn't. My new guy with the retail store sent me an income statement to use for estimated tax payment purposes. Me: Is sales tax included in your gross sales? New Guy: I don't know. Me: See this sales tax in the expenses? Sales tax is not deducted as an expense unless you've included it in your sales. New Guy: Wow, I think you're right. Why is there?