IRS PLR: Extension Granted for Elections to Avoid Termination of S Corporation Election (IRC §1362)

The IRS has published a private letter ruling on Section 1362 granting an extension of time for a trust to make an electing small business trust election, and a trust to make a qualified subchapter S corporation election, to avoid termination of an S corporation election. [PLR 202337001]

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