If Annie and Andy (Each a 30percent Shareholder in a Calendar-Year

question 149

Multiple Choice

If Annie and Andy (each a 30percent shareholder in a calendar-year S corporation) file a revocation statement on March 20, 2020, to terminate their S corporation's S election, what is the effective date of the S corporation termination (assuming they do not specify one) ?

• A)January 1, 2020
• B)March 18, 2020
• C)January 1, 2021
• D)March 16, 2021
• E)None of the choices are correct.

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Definitions:

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1950s

The decade spanning from January 1, 1950, to December 31, 1959, marked by post-World War II recovery, the beginning of the Cold War, and significant cultural shifts in the United States and worldwide.

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