How will I be notified that my corporation has successfully obtained subchapter S Status?
After the Election by a Small Business Corporation (IRS Form 2553) has been filed with the IRS, you will receive a letter from the IRS indicating that your election has been accepted. It is very important to maintain a copy of the acceptance letter in your corporate book as your accountant will most likely need it to prepare your corporate tax returns. Unfortunately, the letter is often confused as junk mail and thrown away. To avoid this, it is the practice of our firm to list our mailing address on the form 2553 so that the S election acceptance letter is delivered to our office for safekeeping.