What this notice is about We've accepted your S Corporation election per Form 2553, Election by a Small Business Corporation. What you need to do Keep this S corporation approval letter (CP261 Notice), in your permanent records. Timely file Form 1120-S, U.S. Income Tax Return for an S Corporation PDF, reporting income/loss for the S corporation including Schedules K-1 (1120-S), Shareholder's Share of Income, Deductions, Credits, etc. PDF, for all shareholders. Timely file all employment tax returns. You may want to If your address changes, submit Form 8822-B, Change of Address or Responsible Party – Business PDF, to ensure our records remain correct. Frequently asked questions Why is the effective date of the election different from what I submitted on Form 2553, Election by a Small Business Corporation? You did not timely file Form 2553 PDF for the effective date requested. Can I have the effective date changed? Relief may be available through Revenue Procedure 2013-30 within Late Election Relief. How do I request a private letter ruling (PLR)? The instructions for requesting a PLR are in the first Internal Revenue Bulletin of each calendar year. Links that you may find useful S Corporations Form 1120-S, U.S. Income Tax Return for an S Corporation S Corporation Compensation and Medical Insurance Issues S Corporation Employees, Shareholders and Corporate Officers S Corporation Stock and Debt Basis Special Rules for Health Insurance Costs of 2-Percent Shareholder-Employees (IRB 2008-2, Notice 2008-1) Publication 542, Corporations PDF For more information on S corporations formed as a Limited Liability Company (LLC): Limited Liability Company LLC Filing as a Corporation or Partnership Herramientas de referencia Publicación 1 (SP), Derechos del Contribuyente PDF Publicación 5027 (SP), Información de Robo de Identidad para los Contribuyentes PDF Lista completa de formularios e instrucciones contributivos, en inglés ¿Necesita ayuda? Puede usted autorizar a un representante para comunicarse con el IRS en su nombre. Vea si usted califica para recibir ayuda de las Clínicas para Contribuyentes de Bajos Ingresos. Si no puede encontrar lo que necesita en línea, llame al número del IRS en la parte superior de su aviso o carta.
