NASSAUSUFFOLK

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  • 1.  FEDERAL S ELECTION

    Platinum Most Valuable Member
    Posted 03-01-2013 06:48 PM
    To all my colleagues

    Help, a small biz S corp, 40 years in biz, and an S corp all those years, got an IRS letter saying it could not find a record of its 2553 election and claiming its status as an S corp is not valid.

    The owner can't find any proof going back 40 years of the status as an S.

    We have till 3/13 till the status as an S is voided.

    What can I do to assist here?

    Sincerely
    Mike Jaffe

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    Michael Jaffe
    CPA
    MICHAEL B. JAFFE, CPA PC
    Commack NY
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  • 2.  RE:FEDERAL S ELECTION

    Bronze Most Valuable Member
    Posted 03-06-2013 06:06 AM
    I would get a POA and call the IRS practitioner line.
    The taxpayer has been filing for all these years as an S Corp. There may be relief similar to that under late filing of the election.

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    Sarah Jansen
    Sarah Jansen CPA
    Bayville NY
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  • 3.  RE:FEDERAL S ELECTION

    Platinum Most Valuable Member
    Posted 03-06-2013 11:55 AM
    Michael,

    Call the Practioner Priority Service 866-860-4529.  If they cannot help you (more than likely), call the Holtville Taxpayer Advocate 631-654-6687.  You must call PPS first, Before you call TAS.

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    Ross Kass
    JABLONS, KASS & CO., CPAs PC
    Melville NY
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  • 4.  RE:FEDERAL S ELECTION

    Platinum Most Valuable Member
    Posted 03-06-2013 12:02 PM
    To all my stressed colleagues:

    Very old S elections, my client's was 1974, can be grandfathered by calling the unit in Utah which sends out the notices in the first place, very accomodating, resolved my client's issue, in 2 minutes, and didnt have to call PPS or TAS.

    Michael

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    Michael Jaffe
    CPA
    MICHAEL B. JAFFE, CPA PC
    Commack NY
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  • 5.  RE:FEDERAL S ELECTION

    Gold Most Valuable Member
    Posted 03-06-2013 12:07 PM
    Michael,

    Please share the phone number for the unit with the group.

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    Stuart Lang, CPA
    STUART G. LANG, CPA PC
    Baldwin NY

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  • 6.  RE:FEDERAL S ELECTION

    Platinum Most Valuable Member
    Posted 03-06-2013 12:35 PM
    The IRS unit that issued the S corp letter and which handled it was in Utah, the Entity Postables, telephone
    801-620-7866,

    Mike Jaffe

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    Michael Jaffe
    CPA
    MICHAEL B. JAFFE, CPA PC
    Commack NY
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  • 7.  RE:FEDERAL S ELECTION

    Platinum Most Valuable Member
    Posted 05-06-2013 08:50 PM

    I have the same issue... 12 years filing as an S , Went through all the channels, to no avail...
    took it to the symposium IRS people --  no help.
    So it seems that the service operators  have discretion .    NYS penalties are mounting and the say they will fall in line with the feds for acceptance date. so then much is riding on the fed acceptance.
    I was aware of that Entity dept in  Utah... but I was told you can not call there.

    I will call the number you posted and report back.... but it is funny..... the disconnect and disparity you get from different Cust service reps in the IRS

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    Abby Alhante
    KURCIAS & ALHANTE, CPAs LLC
    Woodbury NY
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The opinions expressed are the views of the author alone and should not be attributed to any other individual or entity and shall not constitute an accounting opinion.