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To become an S corp, a business must meet strict IRS requirements and file Form 2553. Note that while S corps avoid federal corporate income tax on most income, they may still owe +Form 2553 is used by qualifying small business corporations and limited liability companies to make the election prescribed by Sec. 1362. A corporation or other entity eligible to &3 days ago · Filing IRS Form 2553 by the March deadline lets profitable small businesses and LLCs elect S-corp status, potentially saving over $12,000 annually by shielding distri|Form 2553 is the IRS form you file to elect S corporation status for your business. In simple terms, it tells the IRS that you want your corporation or LLC taxed as an S corp rathe_Form 2553 (Rev. December 2017) Department of the Treasury Internal Revenue Service|Nov 22, 2025 · A practical 2025 guide to IRS Form 2553 covering who qualifies, when to file, how to get shareholder consents, QSST notes, mailing or fax details, and late relief.&Mar 10, 2026 · Learn how to file IRS Form 2553 to elect S-Corp status, including eligibility, deadlines, and what to expect after you submit.


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