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  3. which of the following statements is/are false?

Which of the following statements is/are false? ...

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Question

Accounting

Which of the following statements is/are false?

A.

In order to maintain a valid IRC 444 election after it has been made, the taxpayer must make timely tax payments to the IRS that are assessed and collected like employment taxes.

B.

A taxpayer's IRC444 election is AUTOMATICALLY terminated if the electing entity liquidates.

C.

A personal service corporation's IRC444 election is terminated if it willfully fails to comply with the minimum distribution requirements to employee-owners before the end of the calendar year.

D.

All of the above are true.

E.

Both B & C are false.

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