While it should go without saying, a business owner should intentionally choose its structure and tax status and accept the related tax and governance implications. Inadvertently forming the wrong entity could have costly consequences. In this case, it seems that Costello believed he formed a corporation and treated the entity as a corporation, but failed to check the box by filing Form 8832. As a result, he was personally liable for the entity’s unpaid employment tax liability of approximately $200,000. Business attorneys should impress upon clients the importance of making timely filings — tax or otherwise — and ensure that clients fully understand the implications of selecting a particular form of business entity.