Showing posts with label S-Corporation Late Election. Show all posts
Showing posts with label S-Corporation Late Election. Show all posts
Tuesday, January 27, 2009
Late S-Corporation Election Allowed
IRS has again issued a Private Letter Ruling allowing a retroactive late S-corporation election when a corporation and its shareholders have reported income as if an S-Corporation election has been timely made, where reasonable cause was shown for failure to timely make the election. PLR 200904018.
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