Assume a corporation's status as an S corporation is revoked or terminated. How many years must the corporation wait before making a new S corporation election, in absence of IRS consent to an earlier election?

Question

Quizplus · Accepted Answer

If an S corporation's status is revoked or terminated, the corporation must wait five years before making a new S corporation election without IRS consent to an earlier election.

Assume a Corporation's Status as an S Corporation Is Revoked