Forming & Electing S-Corp Status: Form 2553, Late Relief & Eligibility Traps

2 IRS CE/CTEC/NASBA CPE*

This course reviews the steps for forming an entity to elect S corporation tax status, electing S corporation status, evaluating an existing entity as a potential S Corp candidate, and filing Form 2553.
We'll cover some common pitfalls related to S corporation status, including late or missing S elections.
Many considerations related to electing S corporation status need to be considered, will the entity hold real estate?, if the entity is an LLC, have the initial documents been revised for S corporation status?, Are all potential shareholders eligible?, and more.

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*Self-Study recording not available for NASBA CPE credit.

NASBA Field of Study: Taxes

IRS Program #: 7Q3WU-T-
CTEC Course #: 6248-CE-