In what form of business is it most difficult to change your taxable year?

Question

Quizplus · Accepted Answer

Corporations have more specific rules and requirements for changing their taxable year, including obtaining approval from the IRS. This process can be time-consuming and difficult. Sole proprietorships and partnerships have fewer requirements and can generally change their taxable year more easily. It is unclear what the rules are for LLPs, as they vary by state.

In What Form of Business Is It Most Difficult to Change