Laws.com legal forms guide Form 2553 is a United States Internal Revenue Service tax form used for small businesses to elect tax designation as an S corporation. In order to qualify as an S corporation, your business must not pay federal income tax, but instead pass on income tax through to the shareholders. The Form 2553 can be obtained through the IRS's website or by obtaining the documents through a local tax office. The tax form is to be filed by a corporate taxpayer at any time in order to register as an S corporation for federal tax purposes. First, enter the corporation's name and contact information in the form. Include the address of the corporation, employer identification number, date, and state of incorporation. Then, select the tax year for which the corporation is claiming S designation. If it is your first year of incorporation, start with the date of the shortened tax year. Make an election for the tax year that you wish your corporation to be taxed on in the form. You can select the standard calendar year, a fiscal year, or any specific 52 to 53 week period of your choosing. Check the appropriate if you have over 100 shareholders but are accounting for family members as a single shareholder. Consult the instructions if you are unsure of what qualifies as family shareholders. Provide a contact in case a representative should be contacted in regards to your corporation's tax status. If you have missed a deadline filing the Form 2553 and are filing a C-corporation 1120 tax filing, you must state the reason for the missed deadline and supply supporting documents. Sign and date the bottom portion of the first page for Part 1. On the second page, you must list every shareholder, indicating their approval of the S corporation designation. You...
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Irs 2553 Form: What You Should Know
The corporation should file Form 2553 before the beginning of the corporation's first year in existence. Form 2553, (Rev. December 2018) — IRS See Publication 536, at IRS.gov, for general information on the election. S corporation election (Rev. October 2011) — IRS Form 709 — U.S. Individual Income Tax Return for an S Corporation. Form 709, (Rev. August 2018) — IRS Where the person is not a resident of the United States, the form can be filed either in the name of the corporation for any tax year or at the corporation's United States address for any tax year. Form 709, (Oct. 2018) — IRS Form 3520 (S) — Statement of Tax Effect of Tax on Partnerships, Trusts, Estates, or Estates in which an S Corp is a Partner. Form 3520, (Feb. 2007) — IRS Form 3903 — U.S. Individual Income Tax Return (Form 1040) for Tax Years Beginning in 2023 or After. Form 3903, (Mar. 2019) — IRS Form 8582 — U.S. Individual Income Tax Return for Tax Years Beginning in 2023 or After. Form 8582 or Form 8582-S — (May 2018) — IRS Form 706 — U.S. Individual Income Tax Return (Form 1040) for 2009. Form 706, (July 2007) — IRS Form 8283 — U.S. Individual Income Tax Return (Form 1040) for 2010. Form 8283, (Apr. 2012) — IRS Form 8582-S — (May 2012) — IRS Form 941 — U.S. Individual Income Tax Return for Tax Years Beginning in 2009. Form 941, (Dec. 2009) — IRS Form 944 — U.S. Individual Income Tax Return for Tax Years Beginning in 2010. Form 944, (Dec. 2010) — IRS Form 945 — U.S. Individual Income Tax Return for Tax Years Beginning in 2011. Form 945, (May 2011) — IRS Form 1040 — U.S. Individual Income Tax Return for the year in which the taxpayer became a nonresident alien. Form 1040 — (Sep. 2009) — IRS Form 1040.
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