IRS Form 2553: Glossary Definition

Definition of IRS Form 2553:

This is the form that all stockholders of a corporation must complete, sign and file with the Internal Revenue Service to make an election for the corporation to be treated as an “S corporation.”

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Today’s Question — Saturday, February 4

Must my corporation’s name end in “Inc.”?

No, you can typically choose from “Inc.”, “Incorporated”, “Corp.”, “Corporation”, “Limited” and similar names and abbreviations to indicate to the public that the entity is a corporation. The law varies from state to state and should be considered when forming your corporation. However, corporations do typically need to use one of these words or abbreviations.

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