NSA: more time needed for S corp elections

Posted 3/9/2018

The National Society of Accountants has asked the IRS for a six month extension of the time by which a corporation must make an election to be treated as an S corporation for the current calendar year, so as to allow time for the agency to issue appropriate guidance, as well as for tax preparers to analyze the guidance and provide sound advice to clients. The requested extension would push the deadline back to September 15th.

Tax News CPA Practice Advisor