For other entity classification election tutorials, see our playlist:
   • Entity Classification Elections (Form...  

IRS Form 8832 (Entity Classification Election) can be filed by eligible entities to change their default tax classification. In this example, we cover a late election relief filing under Rev Proc 2009-41 for a single-member disregarded LLC that wants to make a "C" corporation election.

The IRS Revenue Procedure 2009-41 requires the entity to meet 4 elements to qualify for late election relief:
1. The entity failed to obtain its requested classification solely because the election was not timely filed;
2. The entity has not yet filed a tax return for the initial year because the due date for the return has not passed;
3. The entity has reasonable cause for its failure to timely file; and
4. Three years and 75 days from the requested effective date of the election have not passed.

For other entity classification election videos, please see below:

Foreign Partnership to Corporation:    • IRS Form 8832 Election for a Foreign ...  
What is a Per Se Corporation:    • What is a "Per Se" Corporation? IRS F...  
Form 8832 for a Trust:    • Can a Trust File an Entity Classifica...  

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