Late S Elections: new favorable procedures.

• Author: Josephs, Stuart R.
• Position: IRSnews

Rev. Proc. 2013-30 facilitates and extends relief, generally effective Sept. 3, 2013.

[ILLUSTRATION OMITTED]

Transition Rule: If an entity filed a private letter ruling (PLR) request seeking relief for a late "Election under Subchapter S" covered by Rev. Proc. 2013-30 that was pending in the IRS National Office on Sept. 3, 2013, the entity may rely on this rev. proc., withdraw its PLR request and receive a refund of its user lee. However, the IRS will process PLR requests pending on Sept. 3, unless the entity notified the National Office, before the earlier...