VALID › Notice Library › CP265 Notice
In the IRS’s own words · not reviewed by VALID
CP265 notice explained, in the IRS’s own words
This notice alerts you when we terminate a Subchapter S election.
Read the full CP265 page on irs.gov ↗
What this notice is about
This notice alerts you when we terminate a Subchapter S election.
What you need to do
File Form 1120, U.S. Corporation Income Tax Return PDF by the due date. See Instructions for Form 1120 PDF.
You may want to
Keep this notice in your permanent records.
Can I re-elect Subchapter S status?
No, you must wait 5 years before making a new election.
Tips for next time you file
- Income Tax Return for an S Corporation PDF; and Form 1120-F, U.S.
Reference tools
- Publication 1, Your Rights as a Taxpayer
- Full list of tax forms and instructions
Need help?
- You can authorize someone to contact the IRS on your behalf.
- If you can’t find what you need online, call the IRS number on your notice or letter. If you didn’t receive a letter or notice, use telephone assistance.
- If you can't resolve the penalty on your own, contact Taxpayer Advocate Service, an independent organization within IRS.
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.