ElectSCorp.com has launched an e-filing solution for business owners to elect their companies to be treated as an S Corporation with the IRS and other state agencies. This represents the first online filing platform that streamlines the submission process of form 2553 with relevant agencies.
The platform’s most prominent feature is its ability to help business owners file for the S-Corp election after they have failed to meet the application deadline. Even those that forgot to submit the form in their first few years of business can use ElectSCorp’s leading-edge solution.
“A huge 40 percent of our clients approached us for help because they didn’t elect their company on time. From there, we review their case and e-file Form 2553 along with other documents with the IRS and applicable state agencies,” said Melissa Beck, Director of Compliance at ElectScorp.
Most small business owners prefer to operate as an LLC and elect to be treated as an S Corporation. This company configuration can help save thousands of dollars in payroll or self-employment tax.
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“Our platform allows business owners to update information for the IRS and state quickly. The process is over in just a few clicks,” said Melissa. “We can even help them set up their payroll to make sure they stay compliant with tax laws.”
Because being treated as an S Corporation can substantially reduce the tax burden, the S Corporation tax election is a strategic choice for the majority of LLC owners. But it is essential to file it properly and maintain compliance.
“ElectSCorp is the answer to this problem. We take care of the unnecessary bureaucracy and let business owners focus on doing what they do best: running the show.”
ElectSCorp also has an extensive learning center, empowering consumers to educate themselves on all the tax documents required to operate as an S Corporation. Instead of hunting the internet to find reliable help, all critical information can be accessed from one convenient platform. The learning center is a free resource available to everyone.
In the past four years, over 10,000 business owners have trusted ElectSCorp to handle their business filings. By launching the e-filing platform, the company hopes to deliver a simple and affordable solution for small business owners looking to update the IRS and state agencies regarding changes to their business status.