Get Form 3553

Businesses can file IRS Form 2553, Election by a Small Business Corporation and elect to form an S corporation instead of a C corporation. Form 2553 allows a small business to register as an S corp rather than a C corp, and this comes with significant tax benefits that can save your company money during tax season.

The Coding Accuracy Support System (CASS) enables the United States Postal Service (USPS) to evaluate the accuracy of software that corrects and matches street addresses. ... It will also add missing address information, such as ZIP codes, cities, and states to ensure the address is complete.

The corporation (entity) should generally receive a determination on its election within 60 days after it has filed Form 2553. If box Q1 in Part II is checked, the corporation (entity) will receive a ruling letter from the IRS that either approves or denies the selected tax year.

Form 2553 due date In order for Form 2553 to be filed on time, it must be filed: No later than two months and 15 days after the beginning of the tax year that the S corp election is to take effect. Any time during the tax year prior to the tax year the S corp election is to take effect.

Form 2553 cannot be filed online.

Use the CASS tool to take the input address file and check it against the United States Postal Service (USPS) Coding Accuracy Support System (CASS). The tool cleans up the data by correcting address information to the USPS Standard. It also appends valuable address-specific information to the data.

Electing S-Corp Status and Late Filing Relief. ... Failing to make the S-Corp election entirely because they didn't realize that Form 2553 needed to be filed with the IRS. Failing to make the election in a timely manner.

Signature. Form 2553 must be signed and dated by a corporate officer authorized to sign on behalf of the corporation, and be accompanied by the written consent of all the corporation's shareholders. If Form 2553 is not signed, it will not be considered timely filed.

To achieve CASS certification, participants must pass with a minimum score of 98.5 percent for ZIP + 4, carrier route, Five-Digit ZIP and LACSLink, 100 percent for delivery point coding, eLOT, DPV or DSF2, RDI and Perfect Address. CASS certification is valid until the end of the current certification period.