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The IRS Form That Can Save You Thousands (2553)

Don’t dissolve your LLC—you don’t need a new company to become an S corporation. You keep the same EIN, same bank account, same name. All you’re doing is upgrading the tax treatment. Here’s how it works: • File IRS Form 2553 to elect S corporation status. • Under Rev. Proc. 2013-30, you can backdate the election as far back as ...

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