S Election Form Recived Late

Brandonnh · #1 (**permalink**) 12-02-2017, 08:22 PM

Back in 2015 we had filed the form to be elected a S Corp, we didn?t receive the actual acceptance letter till the First week of Jan 2016. The letter was dated 12/28/15.. Are we able to claim a partnership for that year since the letter was so late?

Wnhough · #2 (**permalink**) 12-03-2017, 09:37 AM

no; An existing LLC can request S-Corp status by making a special election with the IRS using form 2553, filed within the first 2 months and 15 days of the beginning of the tax year of 2015 in which the election is to take effect. Your LLC is considered an existing company if more than 75 days have passed since it was formed, or you have already filed a tax return for the llc.

Brandonnh · #3 (**permalink**) 12-03-2017, 10:43 AM

Quote:

Originally Posted by Wnhough

no; An existing LLC can request S-Corp status by making a special election with the IRS using form 2553, filed within the first 2 months and 15 days of the beginning of the tax year of 2015 in which the election is to take effect. Your LLC is considered an existing company if more than 75 days have passed since it was formed, or you have already filed a tax return for the llc.

We formed the LLC around 2/1/15. We had originally sent 2553 in but never heard back. We then sent it again months later and nothing till the letter finally arrived in Jan 2016 with a date of 12/28 saying we would be treated as a S Corp for 2015.