What is Revenue Procedure 2013-30?
Revenue Procedure 2013-30 is IRS guidance that establishes automatic relief procedures for corporations that failed to file timely S Corporation elections using Form 2553. This procedure allows eligible corporations to make late elections effective for the current tax year or up to three years and 75 days prior, provided they demonstrate reasonable cause for the delay and have filed all tax returns consistently with S Corporation status since the intended effective date. Corporations must attach a statement explaining the reasonable cause, obtain all required shareholder consents, and meet all S Corporation eligibility requirements.
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