VALID › Notice Library › CP262 notice
In the IRS’s own words · not reviewed by VALID
CP262 notice explained, in the IRS’s own words
We revoked your subchapter S election.
Read the full CP262 page on irs.gov ↗
What this notice is about
We revoked your subchapter S election.
What you need to do
File Form 1120, U.S. Corporation Income Tax Return PDF by the required due date.
You may want to
Keep this notice for your permanent records.
Can I re-elect subchapter S status?
You must wait five years before you're eligible to make a new election.
Tips for next year
- File Form 1120 by the required due date.
- Income Tax Return for an S Corporation, and Form 1120-F, U.S.
What to do next
- Write down the date on the letter today.
- Look the number up on irs.gov yourself. Don’t trust a link or phone number from anyone else.
- If it says you owe money or proposes changes to your return, take it to a licensed CPA, EA or tax attorney before that date.
Not advice. Not a filing. Verify with a licensed professional. Rules change by year and facts.