Which Statement Is Incorrect with Respect to Filing an S

question 106

Multiple Choice

Which statement is incorrect with respect to filing an S election?

• A) Form 2553 must be filed.
• B) All shareholders must consent.
• C) The election may be filed in the previous year.
• D) An extension of time is available for filing Form 2553.
• E) None of the above is incorrect.

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Definitions:

Perfectionistic Personality

A psychological trait characterized by striving for flawlessness and setting excessively high performance standards, accompanied by overly critical self-evaluations and concerns regarding others' evaluations.

Compulsion

An uncontrollable urge to perform an act, often repetitively, as a way of relieving anxiety.

Excessive Fear

Excessive Fear is an overly intense and often irrational reaction to a perceived threat, which can interfere with normal functioning and lead to anxiety disorders.

Medical Basis

This phrase suggests an underlying biological or health-related reason for a condition or phenomenon.