The IRS may not waive an invalid S corporation election if the failure is caused by:...

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Accounting

The IRS may not waive an invalid S corporation election if thefailure is caused by: A. a failure to obtain required consents. B.a reasonable cause for a late election. C. a shareholder refusingto sign the consent during the IRS-approved extension period. D. aninadvertent failure to qualify as a small business corporationbased on extenuating circumstances.

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Answer A 1There are many reasons why forms are not filed and not timely filed Sometimes the mistake occurs at the time the corporation is organized For example the shareholders may    See Answer
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The IRS may not waive an invalid S corporation election if thefailure is caused by: A. a failure to obtain required consents. B.a reasonable cause for a late election. C. a shareholder refusingto sign the consent during the IRS-approved extension period. D. aninadvertent failure to qualify as a small business corporationbased on extenuating circumstances.

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