Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the irs may not waive an invalid s corporation ele

The IRS may not waive an invalid S corporation election if the failure is caused by:...

80.2K

Verified Solution

Question

Accounting

The IRS may not waive an invalid S corporation election if thefailure is caused by: A. a failure to obtain required consents. B.a reasonable cause for a late election. C. a shareholder refusingto sign the consent during the IRS-approved extension period. D. aninadvertent failure to qualify as a small business corporationbased on extenuating circumstances.

Answer & Explanation Solved by verified expert
3.7 Ratings (283 Votes)
Answer A 1There are many reasons why forms are not filed and not timely filed Sometimes the mistake occurs at the time the corporation is organized For example the shareholders may    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Transcribed Image Text

The IRS may not waive an invalid S corporation election if thefailure is caused by: A. a failure to obtain required consents. B.a reasonable cause for a late election. C. a shareholder refusingto sign the consent during the IRS-approved extension period. D. aninadvertent failure to qualify as a small business corporationbased on extenuating circumstances.

Other questions asked by students

Q

Describe the global North and global South. Which continents does each encompass? Whatlevel of development...

Biology
Q

.What does the Cry family of proteins specifically do to a target organism? Does this affect...

Biology
Q

I am a tissue that produces contractioe force. I am NOT under voluntary control and I form...

Biology
Q

the process of crafting a strategy in a new company

General Management
Q

Where would federal agencies report information concerning their performance goals and performance results, along with their...

Accounting
Q

Uz find v the conjugate harmonic functions of u a u x y x y...

Basic Math
Q

Simplify the expression to a + bi form:(4+2i)+(-12-2i)

Basic Math
Q

Let F e cosy i e siny be a vector field determine whether is conservative...

Calculus
Q

All exponential functions can be written in many forms Write the function f t 570...

Calculus
Q

An alphabetical list of the adjusted trial balance accounts for North Country Rentals after...

Accounting
Q

Palisades Corporation's Midwest Division manufactures subassemblies that are used in the corporation's final products. Lynn...

Accounting
Q

Question 5 Although inextricably linked, strategy implementation is fundamentally different from strategy formulation. It is...

Accounting