If the IRS Assesses Additional Tax Against a Corporation After

question 29

True/False

If the IRS assesses additional tax against a corporation after it has liquidated,the shareholders can't be held liable for the tax due.

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Definitions:

Ketone Reduction

A chemical reaction wherein a ketone is reduced to an alcohol, frequently involving the use of a reducing agent.

NaBH4

Sodium borohydride, a reducing agent commonly used in organic chemistry to reduce ketones and aldehydes to alcohols.

Secondary Alcohol

An alcohol containing a hydroxyl group (-OH) attached to a carbon atom that is connected to two other carbon atoms.

Organic Product

Compounds containing carbon atoms, and generally hydrogen atoms, produced from organic reactions involving organic compounds.