HV Ken Posted May 30, 2014 Report Share Posted May 30, 2014 Had a client file a Form 2553 to elect to be treated as an S-Corp. Client waited and filed the form after 3/15. IRS denied the election for 2014 and is recognizing the election beginning 1/1/15. Client really wants/needs this to be for 1/1/14. The IRS response says that the 2553 can be submitted pursuant to rev. proc. 2013-30 with a statement explaining reasonable cause for filing late. Are there any suggestions on how to word this explanation such that it will be accepted for 1/1/14 consideration? Thanks! Quote Link to comment Share on other sites More sharing options...
michaelmars Posted May 30, 2014 Report Share Posted May 30, 2014 state that the intent was to be an S corp but there was confusion between cpa and attorney with each thinking the other was preparing the election. This usually works. 1 Quote Link to comment Share on other sites More sharing options...
imjulier Posted May 30, 2014 Report Share Posted May 30, 2014 I've used "the taxpayer intended to be an S corp but did not understand the requirements for filing. Therefore, the request is being made now." Quote Link to comment Share on other sites More sharing options...
Richcpaman Posted June 2, 2014 Report Share Posted June 2, 2014 The tax payer checked the box Marked "SCorp" on the SS-4 and thought that was all he had to do... Quote Link to comment Share on other sites More sharing options...
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