Whether you're the only member of a limited liability company, or LLC, or are one of many, you can start taking advantage of some tax-saving opportunities that S corporations offer by making an ...

The IRS may grant a reasonable extension if the taxpayer provides satisfactory evidence of acting reasonably and in good ...

In my practice, I have seen various issues related to a taxpayer’s S election. Corporations potentially jeopardize their S election by unknowingly creating a second class of stock through convertible ...

Changing a regular corporation, or C corporation, to an S corporation requires you to make a tax election with the Internal Revenue Service that places the corporation under the tax provisions of ...

To simplify the election process in such cases, the "normal" S election Form 2553 may be filed. A timely filed Form 2553 will constitute a deemed filing of the Form 8832. This deemed corporate ...

Entrepreneurs are opening businesses everywhere. Image: Small Business Administration. Starting a business is exciting, but it comes with all kinds of decisions to make. On the tax front, many ...