If an S corporation inadvertently terminates its election, the IRS Group of answer choices may...
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Accounting
If an S corporation inadvertently terminates its election, the IRS
Group of answer choices
may permit the corporation to report as an S corporation even for the period that includes the termination date.
will not permit the corporation to restore its S election until the completion of a five-year waiting period.
will permit restoration of the S election if a majority of the shareholders consent to the reinstatement.
will permit restoration of the S election only if the event causing the termination was not within the control of the corporation.
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