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safezone safezone
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7 years ago
If an S corporation inadvertently terminates its election, the IRS
A) may permit the corporation to report as an S corporation even for the period that includes the termination date.
B) will not permit the corporation to restore its S election until the completion of a five-year waiting period.
C) will permit restoration of the S election only if the event causing the termination was not within the control of the corporation.
D) will permit restoration of the S election if a majority of the shareholders consent to the reinstatement.
Textbook 
Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts

Prentice Hall's Federal Taxation 2014 Corporations, Partnerships, Estates & Trusts


Edition: 27th
Authors:
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That's not philosophy, it's geometry
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strwbrrystrwbrry
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Every man, wherever he goes, is encompassed by a cloud of comforting convictions, which move with him like flies on a summer day.
   --Bertrand Russell, 1950

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safezone Author
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7 years ago
Just got PERFECT on my quiz
jbarnett14
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Yesterday
Smart ... Thanks!
kamikazekota
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2 hours ago
Brilliant ツ
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