Get the free form 2553 rev december 2002

MUST be removed before printing. Department of the Treasury Internal Revenue Service Rev. December 2002 Election by a Small Business Corporation Section references are to the Internal Revenue Code unless otherwise noted. General Instructions Purpose To elect to be an S corporation a corporation must file Form 2553. Year is effective for the following tax year if any person who held stock in the corporation during the part of the tax year before t...

How to fill out form 2553 rev december

How to fill out form 2553 rev december?

1. Obtain the form: You can download Form 2553 rev december from the official website of the Internal Revenue Service (IRS) or request a copy by mail.
2. Provide basic information: Fill out the top section of the form, including the name of the corporation or eligible entity, address, Employer Identification Number (EIN), and the tax year for which the election is being made.
3. Choose the type of entity and election: Indicate whether the entity is a corporation or eligible entity (such as an LLC). Then, select the appropriate box indicating the type of tax status election you are making, such as S corporation status.
4. Complete relevant sections: Fill out the sections that apply to your specific situation. For example, if your corporation has multiple classes of stock, you may need to provide additional information in Part II.
5. Attach any required documentation: If necessary, attach any supporting documents required for the election, such as shareholder consents or IRS notices.
6. Sign and date the form: The form must be signed by an authorized person and dated. Make sure to print the name and title of the person signing as well.
7. Keep a copy: Before submitting the form, make a copy for your records.

Who needs form 2553 rev december?

1. Eligible entities: The form is typically needed by eligible entities, such as domestic corporations or certain LLCs with more than one member, that want to elect to be treated as an S corporation for federal tax purposes.
2. Tax purposes: Form 2553 rev december allows businesses to make an election to have their income, losses, deductions, and credits pass through to shareholders or members for tax purposes, rather than being subject to corporate tax rates.
3. Meeting IRS requirements: It is important to meet all the IRS requirements for eligibility and properly complete the form to ensure the election is valid. Consulting with a tax professional may be helpful to ensure accuracy and compliance.

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What is form 2553 rev december?

Form 2553 rev December is the Application for S Corporation Election.

Who is required to file form 2553 rev december?

Certain small business corporations and eligible entities are required to file form 2553 rev December to elect to be treated as S corporations for tax purposes.

How to fill out form 2553 rev december?

Form 2553 rev December should be completed by providing the necessary corporation or entity information, including the election effective date, signatures of shareholders or members, and any required attachments.

What is the purpose of form 2553 rev december?

The purpose of form 2553 rev December is to allow certain corporations and entities to elect to be treated as S corporations for tax purposes.

What information must be reported on form 2553 rev december?

Form 2553 rev December requires the reporting of corporation or entity information, such as name, address, tax year, and election details. It also requires the identification of shareholders or members.