Am I understanding this right? I'm a single-member LLC and I want to be taxed as an S-corp for 2021. I must have 2553 form filed by March 15th. Someone at the IRS said you can't pay yourself as an employee yet & operate as an S-Corp until the 2553 form is approved. Is that right, that wouldn't make sense since you can file up until March 15th, with an effective date of Jan 1st. You can't wait until approval to do payroll, that must be done at least once a month.
I was a sole prop for many yrs and then became an LLC, which I didn't get a new EIN since I already had one. The IRS website is confusing. It talks like I should have got a new EIN when I became an LLC and in other places, it says you don't. I've already ran Jan payroll, but haven't sent in any withholding taxes since I don't have EFTPS approved yet as they kept declining it. So to be safe, I was thinking I should just get a new EIN and then send in Jan/Feb taxes once EFTPS is approved and hopefully the taxes/penalties aren't much. Do you see any problems with this? I don't know the ramifications when you change EIN's or it won't matter as it's tied to your SSN anyways....
