WebThe Internal Revenue Service (IRS) administers and enforces U.S. federal tax laws. WebAn S-Corp is not technically a business entity, but a tax status that eligible LLCs (limited liability company) or Corporations can opt for to get some tax advantages. By choosing to be taxed as an S-Corp, LLCs or Corporations need to fill out and file Form 2553 of the IRS. When approved, they get the special S-Corp tax designation.
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What Is An S Corp? – Forbes Advisor
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