David Posted April 2, 2018 Report Posted April 2, 2018 Business switched from a SMLLC to an S Corp effective 1/1/17. The client is planning to make a big profit sharing contribution later in the year. The intent was to file an extension by 3/15. I thought an extension had been filed for the new S Corp but it wasn't filed. I know it is possible to get relief for the late filing penalty but I can't find anywhere where there could be relief for paying the profit sharing after 3/15 if an extension wasn't filed. Has anyone dealt with this situation before or know knows if there is relief for the S Corp to pay the profit sharing later in the year when they intended to file an extension? Thanks. Quote
jasdlm Posted April 3, 2018 Report Posted April 3, 2018 Don't want you to feel ignored. IRC 404 is pretty clear about the deadline. I don't know if any relief for the profit sharing plan without the extension, but I'm hoping someone else does. Quote
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