A Corporation Is Required to File Form 966 Within 30

question 43

True/False

A corporation is required to file Form 966 within 30 days after the adoption of a plan of liquidation.

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Definitions:

Significant Influence

The power to participate in the financial and operating policy decisions of an investee, without controlling or jointly controlling the entity.

Short-Term Investment

An investment expected to be converted into cash, sold, or exchanged within a short time frame, typically within a year.

Stock Investments

Financial assets consisting of shares in companies, representing ownership and possibly entitling the shareholder to dividends.

Debt Investments

Financial assets involving the loan of money by an investor to a borrower, typically with the expectation of receiving interest income in addition to principle repayment.