ColeenD3
Expert Alumni

Business & farm

As David said:

 

 

If you want to elect S-Corp status for 2020, technically you are too late.  The instructions say to Complete and file Form 2553:

  • No more than 2 months and 15 days after the beginning of the tax year the election is to take effect, or

  • At any time during the tax year preceding the tax year it is to take effect.

That date is February 15.