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TaxPreparer

Form 2553

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I faxed in form 2553 and got an "it went through" response from my fax machine. It has been a few months now and the taxpayer still hasn't received a response saying that it was accepted. Do you think I should send it in again, or just send in the Form 2553 with the 1120S when I prepare it this next tax season? Follow up, should I have him start paying wages to himself right away or tell him to wait? 

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We send faxes through an online system that keeps a copy of the fax and details of the time and date send and accepted.  That being said, I would assume the fax is received and that he should act as if he is a sub-S and begin paying wages as of the election (assuming the corp has the income to do so.)  When you file the return, you may include a copy of the 2553 and a statement that it was faxed on certain date and that the Taxpayer has acted as an S-corp since that time

 

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I had the same situation, and attached PDF of signed 2553 to initial 1120S efile, just to be safe, and the IRS sent a letter saying 'you already filed this.' Couldn't they just have ignored it?!

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