IRS Issues PLR Granting LLC Extension to File Corporate Classification, S Corporation Elections

The IRS has issued a private letter ruling on I.R.C. §1362 and Treas. Regs. §§301.9100 and 301.7701 granting a limited liability company 120 days to file Form 8832 to elect corporate tax treatment and Form 2553 for S corporation status effective as of its formation date. [PLR 202614024]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.