Transcription of SECTION 1. PURPOSE - IRS tax forms
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SECTION 1. PURPOSE - IRS tax forms
26 CFR : Examination of returns and claims for refund, credit or abatement; determination of correct tax liability. (Also: Part I, 1361, 1362; , , , , , , ) Rev. Proc. 2013-30 SECTION 1. PURPOSE This revenue procedure facilitates the grant of relief to taxpayers that request relief previously provided in numerous other revenue procedures by consolidating the provisions of those revenue procedures into one revenue procedure and extending relief in certain circumstances. This revenue procedure modifies and supersedes Rev. Proc. 2003-43, 2003-1 998; Rev. Proc. 2004-48, 2004-2 172; and Rev. Proc. 2007-62, 2007-2 786 for taxpayers to make late S corporation elections, Electing Small Business Trust (ESBT) elections, Qualified Subchapter S Trust (QSST) elections, Qualified Subchapter S Subsidiary (QSub) elections, and late corporate classification elections which the taxpayer intended to take effect on the same date that the taxpayer intended that an S corporation election for the entity should take effect.
QSub election by filing the election form with the applicable IRS Service Center. Form 8869, Qualified Subchapter S Subsidiary Election, is used to make a QSub election. Under § 1.1361-3(a)(3), the election to treat a subsidiary as a QSub may be filed at any time during the taxable year. Section 1.1361-3(a)(4) provides that the effective date is
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