A New Corporation Is Formed on January 2, 2018

question 992

Multiple Choice

A new corporation is formed on January 2, 2018. In order to have the S election effective as of the first day of the first tax year, the Form 2553 must be filed no later than

• A) the properly extended due date for the 2018 tax return.
• B) the original due date for the 2018 tax return.
• C) March 15, 2018.
• D) January 2, 2018.

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Definitions:

High Conscientiousness

A personality trait characterized by diligence, carefulness, thoroughness, and a tendency to follow through with obligations.

Internal Control

Internal control is a process implemented by management and other personnel to provide reasonable assurance regarding the achievement of objectives in effectiveness and efficiency of operations, reliability of financial reporting, and compliance with laws and regulations.

Negative Behaviour

Actions or attitudes that are harmful or undesirable within a social or work setting.

Climate

The general environment or atmosphere within a specific context, often referring to the social or emotional characteristics perceived by individuals and groups.