IRS PLR: Extension of Time to Make Corporation, S Corporation Elections Granted (IRC §1361)

The IRS has issued a private letter ruling on Section 1361 granting the taxpayer a 120-day extension to file form 8832 elections to be classified as an association taxable as a corporation, and Form 2553 to elect to be treated as an S corporation. [PLR 202536028]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.