Form 2553 is filed by any corporation or other entity eligible to elected to be treated as a corporation to make an election to be an S Corporation. It is not an annual form, and it is filed separately from the S corporation return.
When to File Form 2553
Form 2553 should be filed no more than two months and 15 days after the beginning of the tax year the election is to take effect, or at any time during the tax year preceding the tax year it is to take effect.
Where to Find Form 2553
Since Form 2553 is filed in advance of the S corporation tax return, it is not available to be completed within a return in TaxSlayer Pro. However, a link to a fill-in version of Form 2553 at the IRS website is included in TaxSlayer Pro. To access the form, select the Publications icon at the top of the TaxSlayer Pro window, then select Forms, then Form 2553 "Election by a Small Business Corporation".
Important: Do not attach a copy of Form 2553 to the tax return. The IRS will not receive it if it's sent that way. It must be sent to the IRS separate from and in advance of the tax return by US mail, private delivery service, or fax either during the tax year preceding the tax year the election is to take effect or no more than two months and 15 days after the beginning of the tax year the election is to take effect.
| If the corporation's (entity’s) principal business, office, or agency is located in: | Use the following address or fax number: |
| Connecticut, Delaware, District of Columbia, Georgia, Illinois, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia, Wisconsin | Department of the Treasury Internal Revenue Service Center Kansas City, MO 64999 Fax: 855-887-7734 |
| Alabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Hawaii, Idaho, Iowa, Kansas, Louisiana, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Texas, Utah, Washington, Wyoming | Department of the Treasury Internal Revenue Service Center Ogden, UT 84201 Fax: 855-214-7520 |
CP261 Notice
Once the IRS approves the election, it will mail a CP261 notice to the corporation. The notice will indicate the starting date of the S corporation election and also the corporation's filing year, whether a calendar year or a fiscal year. This notice should be kept with the corporation's permanent records.
Additional Information: