Voluntary Revocation of an S Corporation Election Is Permitted Only

question 23

True/False

Voluntary revocation of an S corporation election is permitted only if consent is obtained from all shareholders.

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Definitions:

ELL Families

ELL Families refers to families with members who are English Language Learners, indicating that English is not the primary language spoken at home and highlighting the unique educational challenges they face.

Spring Fling Event

A social gathering, often held by schools or communities in the spring, marked by activities, entertainment, and sometimes, a thematic celebration.

Financial Abilities

An individual's or organization's capacity to manage financial resources effectively, including income, savings, and expenditures.

Religious Beliefs

Deeply held convictions or faith in specific spiritual principles or deities.