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Absolutely, you can make a late S-Corp election for your newly formed LLC. The IRS allows for late elections if you can show that there was reasonable cause for the delay.

Here's how it works: You'd need to file Form 2553, "Election by a Small Business Corporation," and attach a statement explaining the reason for the late filing. The IRS will then decide whether your reason qualifies as "reasonable cause."

Typically, the deadline to make an S-Corp election is no more than two months and 15 days after the beginning of the tax year the election is to take effect. But with the reasonable cause relief, you might be able to make a late election.

Remember, though, that S-Corp status isn't automatically the best choice for every business. It can provide tax benefits, but it also comes with additional paperwork and certain restrictions. So, it's a good idea to weigh the pros and cons before making the election.