2553 - Election by a Small Business Corporation

What is the form used for?

• The main purpose of IRS Form 2553 is for a small business to register as an S Corporation rather than the default C Corporation. Most business owners file this form for tax purposes. S Corps save on taxes because the corporation's taxable income is only taxed once to the shareholders of the corporation.

Is the form Supported in our program? Yes

How to access the form: To access the form you will need to open a return on the desktop and then go to Add Form/Display then in the look for box type 2553.

Limits to the form: This form cannot be copied

IRS Publication: https://www.irs.gov/forms-pubs/about-form-2553