S-Corp shareholder(1 of 2) dies in 2014 before filing 2553 for 2012 initial 1120S Hello, this is my first time using this site.
My client has asked me to catch up/clean up his S-corp tax filings from the inception of his business in 2012. He thought the 2553 was filed but it wasn't. Also, he had a partner (50/50) but she passed away in March of 2014. He is still within the time frame to request a late S-Corp election but the 2553 will not be signed by the deceased shareholder. Additionally, she had no will or executor to sign consent for her.
I guess my question is three-fold:
1. Is there a way that my client will still be able to request a valid S-Corp election with one of the shareholders being deceased?
2. If so, who would sign for her, if anyone?
3. If not, would my client have to file as a C-Corp for 2012, 2013 and 2014? (The last year for his company is 2014, before the death of his partner)
Thank you very much for your help!
P.S. I have tried contacting the IRS three times with NO luck getting someone to talk to. |