- Missed the March 15 S-Corp Election? How to File Form 2553 Late
- The "Wizard" Level Fix: Rev. Proc. 2013-30
- How to Qualify for Late Relief
Missed the March 15 S-Corp Election? How to File Form 2553 Late
The official deadline to elect S-Corp status for the 2026 tax year is March 16, 2026 (since March 15th falls on a Sunday). If you missed that window, you might think you’re stuck paying high self-employment taxes for the rest of the year.
Most business owners assume that if they miss the date, they have to wait until 2027. This is false.
The "Wizard" Level Fix: Rev. Proc. 2013-30
The IRS acknowledges that small business owners are busy. That’s why they created Revenue Procedure 2013-30, which allows for Late Election Relief. This is effectively a "Safety Net" that lets you file Form 2553 (the S-Corp election form) up to 3 years and 75 days late, provided you meet certain criteria.
How to Qualify for Late Relief
To successfully file a late S-Corp election, you must attach a statement to your Form 2553 establishing "Reasonable Cause." Valid reasons often include:
- Your tax professional failed to file the form on time.
- You were unaware of the requirement to file the form separate from your tax return.
- Company leadership changes caused administrative oversight.
Why It’s Worth It
If your business nets over $80,000 a year, operating as an LLC (Sole Proprietorship) vs. an S-Corp is costing you roughly 15.3% on every dollar of profit above a reasonable salary.
- **LLC Tax:** You pay Self-Employment tax on *everything*.
- **S-Corp Tax:** You only pay payroll tax on your *salary*. Distributions are tax-free for FICA.
Don't assume you're too late. We specialize in helping businesses navigate these specific IRS procedures. If you missed the March deadline, contact us immediately. We can likely attach the late election to your 2026 tax return and save your tax strategy for the year.
About the Author
Jason Astwood, Fractional CFO & Tax Strategist
As an IRS Enrolled Agent* and Financial Services Certified Professional®, Jason is a trusted authority in taxation, financial strategy, and business growth. He is the author of The S-Corp Playbook and the Director of Union National Tax, bringing over two decades of expertise in proactive tax planning, financial management, and compliance. Jason specializes in helping business owners minimize tax liability, optimize cash flow, and build long-term financial success. His combined expertise as a tax strategist, financial advisor, and Fractional CFO empowers entrepreneurs to scale their businesses with confidence.