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2553 and 1120-S HELP!
Couple of questions here.
I downloaded the TurboTax Business Download so that I can create an 1120-S for my LLC business. Here's where things get tricky. My CPA filed an 1120-S for my LLC in 2019 and in 2020, however, he forgot to file Form 2553 to elect for S Corp status. So this whole time we've been mailing in the 1120-S and now IRS says "No Record Found". So technically, my LLC is not yet an S Corp.
Questions:
- Does TurboTax Business have a place where I can fill out the 2553 Form?
- If not, I am assuming I have to download and print from IRS website. If that is the case, do I mail this in WITH my 1120-S return? Or do I need to mail off the 2553 Form by itself first?
- If I must send off the 2553 first, what do I file my LLC as in the mean time? Can I still file an 1120-S?
Please help, thank you so much
Topics:
March 10, 2022
3:52 PM