Which Statement Is Incorrect with Respect to Filing an S

question 24

Multiple Choice

Which statement is incorrect with respect to filing an S election?

• A) Form 2553 must be filed.
• B) All shareholders must consent.
• C) The election may be filed in the previous year.
• D) An extension of time is available for filing Form 2553.
• E) All of these are correct.

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Definitions:

Record Information

Pertains to the process of collecting, storing, and retrieving data related to a particular subject or activity.

People

Refers to the human users or participants in a system, organization, or a specific context, often considered in the design and development of products or services.

Contacts Arranged

The process of organizing personal or business contacts in a specific order or system for easier access.

Businesses

Organizations engaged in commercial, industrial, or professional activities, with the aim of generating profits by providing goods or services.