To Make an S Election Effective as of the Beginning

question 108

True/False

To make an S election effective as of the beginning of the current year, an S corporation must file IRS Form 2553 within three and a half months after the beginning of the year.

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Definitions:

Selective Attention

The ability to focus on only one stimulus from among all sensory input.

Retrieve

The action of getting something back or regaining possession.

Selective Attention

The process of focusing on a particular object in the environment for a certain period of time, while ignoring irrelevant information.

Noisy Restaurant

A dining establishment with high levels of background noise, often impacting the dining experience and conversation.