Even if the termination of an S election is considered to be inadvertent, the election to terminate is irrevocable.

Name: Even if the termination of an S election is considered to be inadvertent, the election to terminate is irrevocable.
Brand: Quizplus
Rating: 4.7 (33 reviews)

Question

Quizplus · Accepted Answer

If the termination of an S election is considered inadvertent, the IRS may allow the corporation to retain its S corporation status, provided certain conditions are met and corrective actions are taken.

Even If the Termination of an S Election Is Considered