joe7230
Level 1
12-07-2019
05:00 AM
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Does that mean that I can file a sole owner LLC as an S Corp for 2016, 17 and 18 with a late election(form 2553)?
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abctax55
Level 15
12-07-2019
05:00 AM
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"*******Tax software is no substitute for a professional tax preparer*******
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TaxGuyBill
Level 15
12-07-2019
05:00 AM
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As the link shows, no. You can't go back from the "intended election". The late election is for if the "intended election" was in prior years, but there was some type of mix-up that the election was not actually filed.
So unless your client has been treating it and reporting it as a S-corporation for the last 3 years (such as being on payroll), you can't retroactively make the election now.
