Should I amend this 1120S?

[erchess]

There was some confusion between me and the owner of an S Corp. I knew that the State had shut him down for nonpayment of tax and I also knew that the State was still open to reversing this action if the tax got paid. I thought he had decided to let it go. I therefore marked the Federal Return "Final", efiled it and got it accepted before personally carrying out the negotiations leading to its revival. I therefore filed the State as NOT final and gave it to client to mail because our state does not accept efiled entity returns.

I should mention this is a "Zero activity" return and nothing is wrong with the Federal Return except the "Final Return" box is checked when it should not be. Should I amend? If I amend Federal should I amend the correct State return or wait for the inevitable letter from the State?

[ChEAr$]

No amendment necessary.

If no return had been filed, then IRS might ask "where is it".
but in this case, next year they will not ask "Why are you filing?"

[JohnH]

Harlan: Second question related to the original post. The corporation was under either a "Revenue Suspension" or a "Admnistratively Dissolved", which is cured by filing the missing reports and then paying a $25 reinstatement fee in NC. This brings the corp back to a status of being "in good standing" in NC.

I seem to recall your having suggested on another thread (I think it was you) that once a corp is reinstated after an even of this type, if it's an S-corp then it would be a good idea to re-file the 2553. Yes or no?

[erchess]

Harlan or Anyone

I would like an answer to JohnH's question too.

[erchess]

Bump

I'd still like to know if I need to refile the S Election and also whether there is any problem with doing so needlessly.

[ChEAr$]

Gee, where have I been for the last 24 hours? Almost missed something here.

If reinstated, yes, file the 2553 again. there should be no problem, and it will cover your bases.