Late QSSS election relief. (qualified Subchapter S subsidiary): An article from: The Tax Adviser

This digital document is an article from The Tax Adviser, published by American Institute of CPA's on April 1, 1998. The length of the article is 740 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: The IRS in Letter Ruling 9748024 allowed an election extension under IRC section 1361(b)(3)(B) to a Subchapter S corporation wishing to treat its subsidiaries as qualified subchapter S subsidiaries (QSSS). The corporation had failed to meet Notice 97-4 timing rules. The IRS is authorized under regulations to allow election extensions under some circumstances. Extension relief may be granted for reasonable errors made in good faith which will not prejudice government interests.

Citation Details
Title: Late QSSS election relief. (qualified Subchapter S subsidiary)
Author: Greg W. Smith
Publication:The Tax Adviser (Magazine/Journal)
Date: April 1, 1998
Publisher: American Institute of CPA's
Volume: 29 Issue: n4 Page: 229(2)

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