S Corp Granted by the IRS?

Modified on Tue, 20 Dec 2022 at 02:16 PM

When filing a Federal tax return or extension for business entity designated as an S Corp, you want to be sure that the IRS knows your corporation as an S corp.  For a business entity to be designated as an S Corp, IRS Form 2553 needs to be filed with the IRS.  Once the IRS receives and grants the S Corp status and returns notification of the S Corp designation, the business entity is then known by the IRS as an S Corp and that designation can be used.  If the notification hasn't yet been received, you should use the original entity designation when filing a return or extension, see more information at: IRS S Corp Election Instructions

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