Federal S election automatic ???

[John of PA]

Is the Federal S Corp election automatic upon filing the first 1120 S, or do you still have to file a 2553 election form? Thanks.

[outwest]

2553 still required..

because all the shareholders and spouses must sign.

[ChEAr$]

in a community property state

because all the shareholders and spouses must sign.

maybe spouses sign, but not where I come from.

Here, private property is sacred.

[fliszt]

Even if you pass

the time statue for electing the S, the Fed's will still let you go that direction.
Larry

[John of PA]

2553 still required

It appears that the 2553, by you answers is still required. Thanks to all.

[Burke]

It appears that the 2553, by you answers is still required. Thanks to all.

It was the time frame they changed, not the procedure. You can now file 2553 with the first 1120S tax return. See instructions for Form 1120S.

[BHoffman]

Don't forget to include the reasonable cause for late filing.

[John of PA]

Thank You Again

Thank You again, I will file the 2553 with the first return.