HOUSTON, April 27, 2022 (GLOBE NEWSWIRE) -- A Houston-based legal and tax services provider is offering a digital platform to support business owners as they file form 2553 - the paperwork necessary to complete the S-Corp election. ElectSCorp - which has been serving business clients since 2010 - launched this online platform in response to a backlog in application processing at the IRS, something that is causing significant problems for business owners seeking to achieve S corporation status in a timely manner. Despite filing their S-Corp documentation on time, business owners are discovering that their election is being delayed by the backlog, and so a more modern solution is required.
Using this web-based filing platform, business owners achieve a streamlined, intuitive and wholly digital route to filing form 2553. What's more, the platform is powered by AI and human reviews, ensuring full regulatory compliance for business owners.
There are many factors that make S corporation status attractive to business owners. This status frees directors and shareholders from any personal liability regarding the company's finances or debts, effectively protecting personal assets. S corporation status also permits certain tax benefits, enables the cash method of accounting for business incomings and outgoings, and makes transfer of ownership easier to achieve.
In order to connect with these benefits, businesses must meet election criteria and submit the form 2553 document. This ensures that the process is handled in a manner that adheres completely to United States' tax laws and regulations.
Melissa Beck is the Director of Compliance at ElectSCorp. She has encountered a large number of business owners who are concerned about getting their forms in on time and delays affecting their operations. Ms. Beck had this to say:
"We're finding that modern business owners are really serious about compliance and about doing the right thing. These entrepreneurs understand what they need to do and are working hard to prepare, complete and submit all of their S-Corp election paperwork within the deadline."
Ms Beck continued: "It's such a shame that these business owners are being delayed by the high levels of demand at the IRS - high levels of demand that are causing significant delays in processing. This is leading to S-Corp applications missing key deadlines, even though business owners have remained aware of these deadlines throughout."
"With our solution, we want to make things easier. We want to provide a digital process for filing form 2553 - a digital process that avoids all of the delays, the hassle, the trouble and the anxiety of traditional filing methods. Business owners are focused on compliance and on realizing the benefits of S corporation status. We are here to make this simple and straightforward."
Since ElectSCorp's formation back in 2010, the company has assisted more than 10,000 business clients with filing key documents, achieving compliance, and structuring themselves in the appropriate way under United States tax law. With their digital platform, ElectSCorp hopes to be able to help even more business owners and entrepreneurs complete their objectives.
Business owners can access the digital filing platform via the ElectSCorp website.
About ElectSCorp.com
ElectSCorp provides tax compliance solutions for small businesses and startups. The company provides a cloud-based platform that helps businesses of all sizes comply with tax regulations in partnership with government agencies.
CONTACT
Name: Peter Vic
Phone: (888) 444-5260
Email: petervic@electscorp.com
Related Images
Image 1: File Form 2553 Online
ElectSCorp is a company that helps small businesses form S-Corp tax elections.
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