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Can I revoke an S-Corp election if it is not working?

Incorporation & entity structure

Yes, by filing a revocation statement with consent from shareholders holding more than half the shares.

The constraint is what comes after: the company generally cannot re-elect S status for five years without IRS consent. Treat it as a one-way door rather than something to toggle.

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A Complete Guide to IRS Form 2553 and S Corporation Election
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Check your EIN confirmation letter (CP 575) first. If that is gone, look at a previously filed tax return, a business bank account application, or any 1099 you have issued. Your bank or your payroll provider will also have it on file.

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