Suppose a calendar-year C corporation, NewCorp, Incorporated, was formed on January 1, 2020, and all of the shareholders (Hassell, Richie Cunningham, and Arnold's, Incorporated, a C corporation) filed a Form 2553 to elect S corporation status on April 14, 2020 When is the S election effective?
A) January 1, 2020
B) April 14, 2020
C) January 1, 2021
D) April 14, 2021
E) Never.
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