Discussion:Really Late S Election

From TaxAlmanac, A Free Online Resource for Tax Professionals
Note: You are using this website at your own risk, subject to our Disclaimer and Website Use and Contribution Terms.

From TaxAlmanac

(Difference between revisions)
Jump to: navigation, search
Revision as of 02:50, 3 April 2008
Cindylee (Talk | contribs)
(The client never)
← Previous diff		 Current revision
Taxwizard (Talk | contribs)
(I doubt that the)
Line 9: Line 9:
{{ForumReplyPost|UserID=Cindylee|Date=3 April 2008|Text=The client never filed their personal returns!}} {{ForumReplyPost|UserID=Cindylee|Date=3 April 2008|Text=The client never filed their personal returns!}}
 +
 +{{ForumReplyPost|UserID=Taxwizard|Date=3 April 2008|Text=I doubt that the Service would issue the PLR.}}

Current revision

Discussion Forum Index --> Tax Questions --> Really Late S Election

Cindylee (talk|edits) said:

2 April 2008
Has anyone requested a private letter ruling for a late S election? I have a client that was incorporated in June 2001. They filed only one return, 1120, in 2001. Is it possible to request an election going back this far? Does anyone know how much it will cost and how long it would take?

Thanks!

Taxwizard (talk|edits) said:

2 April 2008
I have filed 2 PLR requests (both granted) for late S elections. Did the shareholders report their disributive share's of S corporation income on their respective returns? If the answer is no, I don't recommend going to the expense of filing a PLR request.

Cindylee (talk|edits) said:

3 April 2008
The client never filed their personal returns!

Taxwizard (talk|edits) said:

3 April 2008
I doubt that the Service would issue the PLR.
Retrieved from "http://www.taxalmanac.org/index.php/Discussion:Really_Late_S_Election"