How to handle late sub S filing statement

Forum|Forum|3 years ago
February 10, 2023
2 replies
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I filed form 2553 (Sub S election for my LLC) but did so late. Therefore, according to the instructions for form 2553 I need to add a statement on the top of the front page of the 1120-S return:

INCLUDES LATE ELECTION FILED PURSUANT TO REV. PROC. 2013-30

How do I make that happen?

TurboTax Business Windows

RobertB4444

You'll have to print and mail your return.

@rbsorensen

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Rick19744

Employee

A few comments regarding your issue:

Have you read Rev Proc 2013-30?
Do you meet all the requirements of the revenue procedure?
- https://www.irs.gov/pub/irs-drop/rp-13-30.pdf
Make sure you review the revenue procedure and include any attachments that are required
- Reasonable cause statement
- Penalties of perjury statement
- Make sure you read what statements need to be signed
You will need to file in duplicate; one separately and one with the Form 1120-S
This should not be taken lightly. I would not file the late election without discussing with a tax professional that everything is being handled correctly.