Identify Which of the Following Statements Is False

question 87

Multiple Choice

Identify which of the following statements is false.

• A) A C corporation short- year income tax liability must be determined on an annualized basis.
• B) If the termination of an S election is considered to be inadvertent, then the election is permitted to continue in place as if the termination had never occurred.
• C) A corporation can obtain relief for a late S election if the IRS consents.
• D) If an S election is terminated and the termination is not considered to be inadvertent, a ten- tax- year waiting period is required before making a new election.

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Definitions:

Outlook Folder

A container in Microsoft Outlook used to organize emails, tasks, contacts, and other items, helping users manage their information efficiently.

Personal Schedule

A timetable for an individual outlining planned activities or tasks, often used for time management.

Multi-day Appointment

An event or engagement scheduled to span across multiple consecutive days, often marked in calendars or planning tools.

Scheduled Period

A designated time frame in which specific tasks or events are planned to occur.