To Make an S Election Effective as of the Beginning

question 108

True/False

To make an S election effective as of the beginning of the current year, an S corporation must file IRS Form 2553 within three and a half months after the beginning of the year.

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Definitions:

Family Member

An individual who is part of one's immediate or extended family, through blood relation, marriage, or legal adoption.

Prevalence

The proportion of a population that is affected by a certain condition, disease, or characteristic at a specific time.

Battering

The act of subjecting someone to physical violence repeatedly, often used in the context of domestic abuse.

Heterosexual

A person who is sexually attracted to individuals of the opposite sex.