Identify Which of the Following Statements Is False

question 5

Multiple Choice

Identify which of the following statements is false.

• A) The IRS can grant extensions of time of filing shareholder consents to the S election.
• B) An S election is filed by the corporation by using Form 2553 on or before the due date (without regard to any extensions) for the corporate tax return for the tax year in question.
• C) An S corporation must file a tax return for any year in which the S corporation is in existence.
• D) The election form can be signed by a person authorized to sign the S corporation tax return.

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Definitions:

Lord North

A British statesman who served as Prime Minister from 1770 to 1782, notably during a significant portion of the American Revolutionary War.

Liberty

The condition of enjoying freedom in society from authoritarian-imposed constraints on one's lifestyle, actions, or political beliefs.

Parliament

The supreme legislative body in many countries, including the United Kingdom, consisting of elected representatives who have the power to make laws.

Colonial Possessions

Territories that were owned or controlled by a foreign sovereign or nation, particularly during the era of European imperialism and colonization from the 15th to 20th centuries.