Get the free Form 2553 (Rev. September 1996 ) - IRS - irs

Election by a Small Business Corporation. 2553. Form. OMB No. 1545-0146 ... U.S. Income Tax Return for an S Corporation, for any tax year before the year the ...

How to fill out form 2553 rev september

How to fill out form 2553 rev September:

1. Obtain the form: You can find form 2553 rev September on the official website of the Internal Revenue Service (IRS). Download the form or request a copy to be mailed to you.
2. Provide basic information: Fill in the required fields such as the name of your corporation, employer identification number (EIN), and the address.
3. Election information: Indicate the tax year for which you are making the S corporation election and provide the effective date of the election.
4. Shareholder information: List all the shareholders of the corporation and their respective names, addresses, Social Security numbers or EINs, and the number of shares held.
5. Election details: Answer the questions regarding the type of S corporation election being made and provide any necessary explanations or attachments if required.
6. Authorized person: The form must be signed by an authorized person, which can be the president, vice president, treasurer, assistant treasurer, chief accounting officer, or any other corporate officer authorized to sign.
7. Filing instructions: Review the filing instructions provided with the form to ensure you have completed all the necessary steps correctly.
8. Submit the form: Once the form is completed, submit it to the appropriate IRS address as provided in the instructions.

Who needs form 2553 rev September:

1. Small corporations: Form 2553 rev September is specifically designed for small corporations that wish to elect S corporation status for federal tax purposes.
2. Eligibility requirements: To qualify, the corporation must meet certain requirements such as having no more than 100 shareholders who are individuals or certain trusts, having only one class of stock, and being a domestic corporation.
3. Tax benefits: The form allows eligible corporations to avoid double taxation as the corporation's income, losses, deductions, and credits are passed through to the shareholders for federal tax purposes.
4. Flexibility: S corporation status can provide flexibility in terms of taxes, liability protection, and the ability to pass the business on to future generations.
5. Consult a professional: It is advisable to consult with a tax professional or an attorney to determine if electing S corporation status is suitable for your specific situation and to ensure the form is filled out correctly.

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What is form 2553 rev september?

Form 2553 rev september is the application for an S corporation election.

Who is required to file form 2553 rev september?

Certain small business corporations can file form 2553 to elect S corporation status with the IRS.

How to fill out form 2553 rev september?

To fill out form 2553 rev september, you need to provide information about your corporation, including its name, address, and EIN. You also need to include information about the shareholders and their consent to the S corporation election.

What is the purpose of form 2553 rev september?

The purpose of form 2553 rev september is to elect S corporation status, which allows certain small business corporations to pass through their income, losses, deductions, and credits to their shareholders.

What information must be reported on form 2553 rev september?

On form 2553 rev september, you must report information about your corporation, such as its name, address, and EIN. You also need to provide details about the shareholders, including their names, addresses, and Social Security numbers.