How I help . . .
In two recent instances, taxpayers discovered that their previous advisors had missed critical and potentially costly tax election deadlines. Unfortunately, the standard safe-harbor deadlines under which the IRS could extend those deadlines had passed. We therefore filed requests for Private Letter Rulings with the IRS to get extensions to file these elections. After discussing the issues with the IRS Associate Chief Counsel and filing the appropriate requests with the IRS, the IRS issued Private Letter Rulings granting extensions of time to file the missed elections.