Irs Form 2553
/ˌaɪˌɑːrˈɛs fɔːrm ˈtuːˈfɪftiːˈθriː/
Definitions
- (n.) A United States Internal Revenue Service form filed by a small business corporation to elect to be taxed as an S corporation under IRS rules.
The company submitted IRS Form 2553 to elect S corporation status for federal tax purposes.
Forms
- irs form 2553
Related terms
See also
Commentary
Properly filing IRS Form 2553 is crucial to ensure timely and effective S corporation election, impacting the corporate tax treatment.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.