If Annie and Andy (each a 30% shareholder in an calendar year S corporation)file a revocation statement on March 20,2017 to terminate their S corporation's S election,what is the effective date of the S corporation termination (assuming they do not specify one)?

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If a revocation statement is filed after March 15, the S corporation termination is effective on the first day of the following tax year, which would be January 1, 2018.

If Annie and Andy (Each a 30% Shareholder in an Calendar