Which of the following statements is/are false? ...
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Accounting
Which of the following statements is/are false?
A.
In order to maintain a valid IRC 444 election after it has been made, the taxpayer must make timely tax payments to the IRS that are assessed and collected like employment taxes.
B.
A taxpayer's IRC444 election is AUTOMATICALLY terminated if the electing entity liquidates.
C.
A personal service corporation's IRC444 election is terminated if it willfully fails to comply with the minimum distribution requirements to employee-owners before the end of the calendar year.
D.
All of the above are true.
E.
Both B & C are false.
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