Once a Corporation Has Elected a Taxable Year, It Can

question 74

Multiple Choice

Once a corporation has elected a taxable year, it can change the taxable year without IRS permission if

• A)the resulting short period has a net operating loss of $100,000 that the corporation wants to carry forward.
• B)the corporation changed its taxable year seven years ago.
• C)the corporation is not an S corporation.
• D)a corporation can change its taxable year without IRS permission in all of the above situations.

---

Definitions:

Comparison Groups

Reference groups used to evaluate or benchmark the outcomes, behaviors, or characteristics in a study or negotiation context.

Offensive Behavior

Refers to actions or remarks that are hurtful, inappropriate, or cause discomfort to others.

Manipulating

Influencing or controlling something or someone to one's advantage, often in a manner that is considered deceitful or unfair.

Synchronized De-escalation

A coordinated approach by all involved parties to progressively reduce tensions and conflict intensity in a systematic manner.