Form 2553 – An Overview
Form 2553, Election by a Small Business Corporation, is used by businesses to elect under section 1362(a) to be an S corporation Status. The Status of S-Corporation helps business owners from double-taxation.
It avoids paying income taxes at the corporate level, instead, the profit and losses should be reported to their owners/shareholders’ income tax returns.
When to file Form 2553?
Form 2553 must be filed on or before the two months and fifteen days after the start of the tax year in which the S-Corporation will take effect.
Form 2553 Mailing Address
The mailing address will vary based on the business location
| If the corporation’s principal business, office, or agency is located in | Address | FAX |
| 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 Kansas City, MO 64999 | 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 Ogden, UT 84201 | 855-214-7520 |
Looking to know how to start an S-Corporation, Click here.
Jenny Morris