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Form 8832 for Orlando Florida: What You Should Know
No; any one-time election, including electing the classification as being a domestic corporation, partnership or S Corporation, must be filed by the date of the election, including for the first time on or after the first anniversary of the election (regardless of the registration date); you can also change how it is classified by filing a renewal application.  In order to change the classification for tax purposes, you must file a new election. See the Form 8832 FAQs here. The Form 8832 rules are also found in Section 1064(c)(5) of the Internal Revenue Code. Filing Schedule C You can choose to file Schedule C or Schedule C-EZ from the list of filing instructions above, depending on whether the election is for the 2555 or 2544 series (or the partnership). For the 2555 series, the election must be filed by the beginning of the year following the year in which the tax return was required to be filed. For example, if a Form 8832 is filed on April 15, 2017, and you elected to be categorized as a partnership, and you have an income tax return for 2024 to report on Schedule C (even if you did make the election for an earlier series), the election must be filed by April 1, 2018. Filing Schedule C requires the election be filed by the end of April. Filing Schedule C-EZ requires the election be filed by the end of April. The election must be filed by June 14 of the year immediately preceding the date of the election. This means the election may not be filed after June 15, 2018, Reporting as a Corporation by a Relevant Taxpayer The 2555 series election can be applied to a disregarded entity for taxable decades 1 C-EZ Election: Reporting As a Corporation by a Relevant Taxpayer You're required to file Form S-Corp with your Form 1040 and Form 1040A if you report an income from a taxable year in the 2555 series through 2017. Schedule C-EZ can be completed, even if you're not filing Form 1040S-CX or 1040 EZ. Your Schedule C-EZ must be completed and filed each year during the taxable year in which you are using the 2555 series classification. Schedule C-EZ and Schedule O must be filed by June 14, 2016, to report income in the 2555 series.
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