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Due to some reasons i have to change my accountant, the new accountant that i hired says that I have to redo our taxes for 2010, and fiscal year would be changed, the new fiscal year would be (July 11, 2011 - May 31 2011). This would mean filing an amended return. New accountatnt said that C corps must file a request in writing with the IRS in order to file as a calendar year if they begin their tax year somewhere in the middle of the year.
when i asked few other consultants they said it doesn't matter which status you have i.e. C corp. or S corp. you can choose your filling status.
I am confused if my new consultant is correct or not."
This year I am anticipating a corporate loss and don't know how that impacts my personal tax return."
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