Fill Irs Form 13844 Entities 2025

Hey, what's up guys? This is Josh with JDB Business Solutions. So earlier this week, we posted an article about the benefits of being in an LLC, taxes, and an S Corporation. One of the requirements to become an S Corporation is filing Form 2553. Today, we're going to show you how to fill that out. However, I recommend using a CPA to do this because you don't want to make any mistakes that could harm your business. But if you want to attempt it yourself, here's a step-by-step guide. First, go to Part 1 of the form. Fill in the name of your business, in this case, I'll use my business name, JDB Business Solutions. In section A, enter your employer identification number (EIN). If you don't have an EIN yet, you'll need to obtain one since it's required for an S Corporation. You can check out the IRS website for instructions on how to get an EIN. Next, they want to know when your business became incorporated. In my case, it was on 10/1/2013. Enter the state of incorporation, which in this example is Colorado. Then, provide the address of your business, like 111 Somewhere Street, Centennial, Colorado 80015. This is all basic business information. If you changed your address after obtaining an EIN, indicate whether you changed your name or your address. Then, specify the tax year for which you want the election to be effective. For most businesses, it will be the calendar year. Unless you have more than 100 shareholders, you can ignore item G. In the name and title section, if you're the only person in your business, just write your name and title (e.g., Josh Byerly, Owner) and provide your phone number. There's a section for those filing the S Corporation election with Form 1120S. You'll need...