IRS Issues Private Letter Ruling Granting LLC Extension to File Entity Classification, S Corporation Elections

The IRS issued a private letter ruling on I.R.C. §1362 and Treas. Reg. §§301.9100 and 301.7701, granting a limited liability company 120 days to file Form 8832 to elect corporation classification effective on its formation date and Form 2553 for S corporation status. [PLR 202607013]

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