@Mike9241 wrote:
now i have seen some threads that infer an LLC formed during the year or a sole proprietorship, can attempt to make a Late S-Corp election and then all income for the year would be reported on the S-Corp return
Yes, but the threads, at least those I have read, involve an eligible entity that is already in existence (e.g., an LLC) when the S corporation election was made.
So, you could have an LLC formed earlier in a given tax year and, sometime later, file a Form 2553 such that all income/expense would be reported on an 1120-S. I'm not sure how that could possibly happen if the LLC was not in existence at that earlier date.
Regardless, @kizfaka either needs to seek counsel from different (i.e., "better") tax professionals or request that the accountants support their arguments with something authoritative (such as the Code, Regs, et al).
