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There is relief available for you, since you intended to be taxed as an s-corporation but inadvertently failed to file Form 2553 to make the election.
You will file the corporate return using Form 1120-S, with Form 2553 attached. (Note: You will need to file a paper return this year in order to make the election).
When you file the return, you will need to write the following statement at the top of Form 2553: "FILED PURSUANT TO REV. PROC. 2013-30". You will also attach a statement indicating that the corporation either had reasonable cause (and spell out the circumstances) or inadvertently failed to file Form 2553 in a timely manner. Both Form 2553 and the attached statement must be signed by every shareholder.
This article (https://www.thebalance.com/forming-an-s-corporation-3193223) provides a lot of good information on the subject.
There is relief available for you, since you intended to be taxed as an s-corporation but inadvertently failed to file Form 2553 to make the election.
You will file the corporate return using Form 1120-S, with Form 2553 attached. (Note: You will need to file a paper return this year in order to make the election).
When you file the return, you will need to write the following statement at the top of Form 2553: "FILED PURSUANT TO REV. PROC. 2013-30". You will also attach a statement indicating that the corporation either had reasonable cause (and spell out the circumstances) or inadvertently failed to file Form 2553 in a timely manner. Both Form 2553 and the attached statement must be signed by every shareholder.
This article (https://www.thebalance.com/forming-an-s-corporation-3193223) provides a lot of good information on the subject.
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