AIRE Was Initially Formed as an S Corporation Three Years

question 123

Essay

AIRE was initially formed as an S corporation three years ago. AIRE has four equal shareholders, Adam, Irene, Raymond, and Ethan. Raymond and Ethan would like to terminate the S election. However, Adam and Irene are opposed to the idea. Can Raymond and Ethan make a voluntary election to terminate the S election without the consent of Adam and/or Irene? Explain.

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Definitions:

Comprehension Skills

The ability to understand, process, and interpret written or spoken language.

Long-Term Memory

Storage of virtually unlimited capacity that holds information for long periods.

Alzheimer Disease

A progressive neurological disorder characterized by memory loss, cognitive decline, and personality changes, primarily affecting older adults.

Restlessness

An uneasy or impatient state where one cannot remain at rest due to anxiety, boredom, or other emotional or physical factors.