S Corp

"tarls" wrote

"Oh s*it, I screwed up" ??

Maybe not the best choice, but most likely the truth.

How's this: "Shareholder(s) fully intended to elect "S" status from the beginning, shareholder(s) relied upon the services and advice of their lawyer/accountant and thought that the lawyer/accountant filed all the necessary documents to elect "S" status, shareholder(s) and the corporation operated the business as if the "S" election was valid and in place"

.......etc and so on.

Be as factual and truthful as you can.