IRS PLR: Disregarded Entity Election Extension Granted (IRC §7701)

The IRS has published a private letter ruling on IRC §7701 and Treas. Regs. §301.9100, granting the taxpayer an extension of 120 days from the date of the letter to file Form 8832 to elect to be disregarded as an entity separate from its owner for federal tax purposes effective on a specified date. This ruling applies to all affected taxable years. [PLR 202533004]

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