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We have a client that converted from a C corporation to a Subchapter S corporation on 6/30/12. No changes were made to the fed identification numbers or state id numbers when it came to filing payroll tax returns after the change was made on 6/30/12. No change to the corporate name either. Can they file one set of W-2's and all other year end payroll compliance forms or do they need to file two sets, one for the first 6 months and one for the last 6 months?


The BIDaWIZ Team's Answer:

If the conversion was filed after the March 15th deadline, then the C Corporation would still be treated as such for the entire 2012 tax year unless the company qualified for relief from the IRS for a late election. Generally speaking, the company must show reasonable cause for the IRS to allow the company to claim a late election and be treated as an S Corporation for the year.

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