If a Corporation's Status as an S Corporation Is Involuntarily

question 35

True/False

If a corporation's status as an S corporation is involuntarily terminated in the middle of the tax year, the corporation must file an S corporation tax return for the first half of the tax year and a regular corporation tax return for the second half of the tax year.

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Definitions:

Workers' Compensation Act

Legislation providing financial compensation and medical care for workers who are injured on the job or contract work-related illnesses.

Canadian Human Rights Act

A statute passed by the Parliament of Canada in 1977, designed to protect individuals from discrimination based on race, gender, disability, and other enumerated grounds.

Sexual Harassment

Unwanted or unwelcome behavior of a sexual nature that creates an intimidating, hostile, or offensive work environment.

Constructive Dismissal

Termination of employment triggered by an employer's substantial change to the job or work environment, forcing the employee to resign.