IRS PLR: QSub Election Extension Granted (IRC §1361)

The IRS has published a private letter ruling on Section 1361(b)(3)(B), granting the taxpayer an extension of 120 days to file Form 8869, Qualified Subchapter S Subsidiary Election, to elect to be treated as a qualified subchapter S subsidiary (QSub) for federal tax purposes. [PLR 202536018]

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