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Can Partners be W2 employee's?

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    #16
    Originally posted by TAX View Post
    Just keep it simple.

    (1) File 2553 and in a letter mention about late election for LLC to be taxed as s corp effective 01/01/07

    (2) Look at Taxbook Rev. procedure (2003-43)

    (3) Fax two documents to IRS: 2553 & Letter

    (4) Charge client $

    You are done! (Chances of rejections are vey very very less)!

    I just did and got approved. Send me private e-mail if you need help.
    That is the way to go, if Partner #4 who walked out can be induced to sign the 2553, might be problematic if the split was unpleasant.
    "A man that holds a cat by the tail learns something he can learn no other way." - Mark Twain

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