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

Question

Quizplus · Accepted Answer

- Form 2553 must be filed to make an S election. 
- All shareholders must consent to the election. 
- The election may be filed in the previous year, as long as it is no later than the 15th day of the third month of the current tax year. 
- An extension of time is available for filing Form 2553, however, it must be filed no later than the 15th day of the third month of the current tax year.

Which Statement Is Correct with Respect to Filing an S