Hello Everyone.
This is my first post.
I Thank you all in advance for your support with this situation:
Corporation created in 08/2016. Did not file an S-Corp Election form 2553.
Owner did not do any Bookkeeping for the year 2016.
Owner faxed Late Election Form 2553 March 11, 2017 to try to obtain S-Corp Status from 08/2016.
I would like to file an extension to the 2016 Tax Return in order to have enough time to complete Bookkeeping for 2016 and then file 2016 Taxes with form 1120S.
From my understanding you can't file an extension as a different entity than the one you currently have.
Do I just file the 2016 Tax Return extension as a C-Corporation? and then wait for the 2553 to be approved in order to file the return as an S-Corp?
Thanks again.
Jay.
This is my first post.
I Thank you all in advance for your support with this situation:
Corporation created in 08/2016. Did not file an S-Corp Election form 2553.
Owner did not do any Bookkeeping for the year 2016.
Owner faxed Late Election Form 2553 March 11, 2017 to try to obtain S-Corp Status from 08/2016.
I would like to file an extension to the 2016 Tax Return in order to have enough time to complete Bookkeeping for 2016 and then file 2016 Taxes with form 1120S.
From my understanding you can't file an extension as a different entity than the one you currently have.
Do I just file the 2016 Tax Return extension as a C-Corporation? and then wait for the 2553 to be approved in order to file the return as an S-Corp?
Thanks again.
Jay.
