What this notice is about We accepted your election or treatment as a Qualified Subchapter S Trust (QSST). What you need to do File Form 1041, U.S. Income Tax Return for Estates and Trusts PDF, timely. Include Schedule K-1 (Form 1065), Partner’s Share of Income, Deductions, Credits, etc. PDF, reflecting your ownership in the S corporation. Keep this notice for your records. You may want to Visit the following sites for more information: S Corporations Form 1120S, U.S. Income Tax Return for an S Corporation Publication 542, Corporations PDF S Corporation Compensation and Medical Insurance Issues S Corporation Employees, Shareholders and Corporate Officers S Corporation Stock and Debt Basis Special Rules for Health Insurance Costs of 2-Percent Shareholder-Employees (IRB 2008-2 Notice 2008-1) Frequently asked questions How do I terminate the QSST election? This election can only be terminated by permission of the Commissioner of Internal Revenue. See IR Bulletin 2012-1 PDF for instructions. Reference Tools Publication 1, Your Rights as a Taxpayer Publication 17, Your Federal Income Tax Full list of tax forms and instructions 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, call the IRS number at the top of your notice or letter.