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Video instructions and help with filling out and completing irs form 2553 instructions pdf

Hello my name is James setter burg and I'm a CPA here at elevation tax and I'm going to spend the next couple of minutes going over the instructions for the files that were sent to you via email before I start I want to note that the email screenshots in this video are taken from Outlook so if you have Gmail Yahoo or another email provider the location of the attachments and design of the email will look different despite the difference the process will still be the same and a minimum four files would have been sent to you the maximum amount could vary it is possible to have as many as six maybe even more files regardless of the amount be sure to download and save each file to your computer since the returns were sent via email we password protect each file an email that contains a password will be sent to you right around the time the instruction email was sent in order to open a file you will need to double click on the attachment when clicked you'll be prompted to enter the password after entering the password click OK and you'll then have access to the file you can then save the file to your computer I will now go over each file you received for sure at least four files would have been sent to you the client file k1 files form 2553 and the signature documents the client file contains the federal return supporting statements and schedules and if applicable any state returns use this file for your own review if you encounter any inaccuracy z' please notify us so we can make the correction do not sign and send the signature documents back to us if a return is inaccurate we will need to update the return and send you the new files we recommend that you keep a copy of this file for your records the next file is the k1 the k1 reports the shareholder share of the business profits or losses please distribute the k1 to each shareholder as it will be needed to complete his or her individual tax return here's an example of federal form k1 separates take a ones may also be included in your file next is form 2553 form 2553 makes the S selection on your entity this form is required to be filed with your return print out this form signatures are required since the election is late you will need to send some additional documentation along with this form these pages will be included in this file after the first two pages of form 2553 here are the first two pages of the form 2553 any officer of the corporation needs to sign and date the bottom of page one on the second page each shareholder needs to sign and date next to his or her name the next two pages are the additional forms that will need to