Understanding Your CP262 Notice

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.

Answers to common questions

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.
  • Consider e-filing. IRS providers and large businesses authorized to participate in IRS e-file can file Form 1120, Form 1120S, U.S. Income Tax Return for an S Corporation, and Form 1120-F, U.S. Income Tax Return of a Foreign Corporation, through Modernized e-File (MeF).
  • Visit Form 1120/1120S/1120-F e-file for more information about MeF.

Need Help?

  • You can authorize someone to contact the IRS on your behalf.
  • See if you qualify for help from a Low Income Taxpayer Clinic.
  • If you can’t find what you need online, you can call the IRS at the 800, 866, or 888 number listed on the notice.