Is it possible to appeal to the government to accept S Corp status for years prior to the actual submission?
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In this audio snippet, you'll hear about:
- Is it possible to appeal to the government to accept S Corp status for years prior to the actual submission?
- It depends upon when the entity is actually created. Usually within the first 3 years you can successfully do that.
Audio Transcript
Travis:
I had one
person ask me if it's possible to appeal to the government to accept a
sub S status for an entity for years prior to the actual submission.
Yosef:
The answer to that question is going to depend on when the entity was actually created.
Travis:
OK.
Yosef:
Usually within the first three years that an entity is created you can
actually go back and get the S election. But again it's going to depend
on a lot of factors that are far beyond the scope of this conversation.
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