Attention, people. If you want to have your company recognized as an S Corporation for the 2015 tax year, we’re coming up on an important deadline.
March 16, 2015 is the last day you can opt to convert your C Corp or LLC to an S Corp so that you can take advantage of the tax benefits of an S Corporation for 2015. You’ll need to fill out IRS Form 2553 (or have CorpNet handle it) in order to qualify.
What You Need to Fill Out on Form 2553
The form, like most IRS forms, sounds scarier than it is. You’ll need to provide some basic information about your company, including:
- Contact info
- Year you want the S Corp election to begin (2015)
- Your tax year
- Shareholder information
- Reason for filing document late, if applicable
- Information on your current corporation