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.
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.
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.
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.
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.
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.