If you have chosen to form an S-Corp, EZ Filing Solutions can help you prepare the documents you need to file for a S-Corp. We have a team of professionals that is experienced in S-Corporation formation and we are able to guide you through the process of filing, even fixing any errors that may occur during filing.
Why File for an S-Corporation
Many business owners find that filing for an S-Corp is best for their situations. S-Corporation formation offers the same personal liability protection as C-Corporation formation, but owners of S-Corps are able to report their shares of profit, or loss, on their personal tax returns. S-Corps file IRS Form 1120s to report earnings.
S-Corp vs. C-Corp?
When deciding to form a S-Corp or a C-Corp, consider that both types of corporations offer personal liability protection from business lawsuits or disgruntled customers. The choice to form a S-Corp or C-Corp involves many factors, and only you can know which corporation is best for you. Keep in mind that a C-Corp pays taxes at the business level, and then owners pay taxes on salaries earned. This double taxation situation prompts many business owners to form an S-Corp instead, where the business is not taxed but owners report income on their personal tax returns.
Does a Formation Filing Expire?
No. When you elect to form an S-Corp, your formation filing does not expire. The IRS will recognize your election until you terminate it, or until the IRS revokes it.
Do I need a Federal Tax ID (EIN) before forming my C-Corporation?
Yes, you will need a Federal Tax ID (Employee Identification Number) before you form a S-Corp. The S-Corp application will require you to enter your EIN, which will have required you to specify that you are forming an S-Corporation.
EZ Filing Solutions can also help you gather the documents and fill out the application for your EIN.
Questions? Send Us a Message
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Apply for a Federal Tax ID today and get it sent directly to your inbox.
To receive a new IRS Federal Tax ID Number, or Employment Identification Number, simply complete our IRS Tax ID Application form online. Our user-friendly simplified form allows you to securely apply for a Federal Tax ID number, for business or personal use in less than 10 minutes.
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