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Business & farm
You can't just arbitrarily say you want to revoke your S election.
The revocation is made by the corporation in the form of a statement filed with the IRS Service Center where the corporation initially filed its S election. A revocation may specify a prospective effective date. This can be any date on or after the day on which the revocation is made, but must be stated in terms of a specific day, month, and year, and not in terms of a specific event.
The statement must contain certain information. In addition, once your S election is revoked, your entity then becomes a C corporation. This is because initially you elected to be taxed as an association and then made the S election. Well once the S election is revoked, you are now back to being taxed as an association. So this means that you would need to file a form 8832 to go back to the default entity as a single member LLC.
It may just be easier to close out the LLC / S corporation and then start a new LLC which could then be taxed as a disregarded entity.
Having said all of the above, I would recommend you consult with a tax professional to work through these issues.
Also keep in mind the date of replies, as tax law changes.