martindale.com
Legal Library
|
Internal Revenue Service Extends Relief For Late Entity Classification Elections
by Sam L. Merrill
Thompson & Knight LLP - Dallas Office
|
|
October 27, 2009
Previously published on October 20, 2009
On September 28, 2009, the Internal Revenue Service ("IRS") issued Revenue Procedure 2009-41 ("Rev. Proc. 2009-41"), which provides relief for taxpayers making a late entity classification election. Rev. Proc. 2009-41 permits relief for certain late entity classification elections and extends the period for making a late entity classification election to three years and 75 days after the requested effective date of such election. Entities that had "reasonable cause" for their failure to timely file an election can qualify for relief under Rev. Proc. 2009-41 if they satisfy the requirements described below.
|
The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
| | View More Library Documents By... | | | |
| | | | Thompson & Knight LLP Overview |
Practice Area Resource Centers
|
|