How to File IRS Form 2553: S-Corp Election
IRS Form 2553 is used for gaining recognition under Subcahpter S of the federal tax code.
For Federal Taxes
To elect S-Corp treatment for your federal tax return:
- Submit to:
- Internal Revenue Service
- Form 2553: Election by a Small Business Corporation
- Instructions for Form 2553
- Filing Method:
- Mail or fax
- ~16 hours (IRS estimate)
- Within 60 days (add 90 days if box Q1 is checked)
- File within 75 days of formation for the election to take effect from the date of formation.
- You will receive acknowledgment and approval from the IRS. If not, follow-up with the Service Center where Form 2553 was filed.
For State Taxes
To obtain S-Corp tax treatment for state taxes, you may need to file additional documents with your state department of revenue or other taxation authority.