A partnership cannot elect to use a tax year other than a calendar year merely because the partnership's CPA is too busy to prepare a calendar year return.

Name: A partnership cannot elect to use a tax year other than a calendar year merely because the partnership's CPA is too busy to prepare a calendar year return.
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Question

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A partnership must have a valid business purpose to use a tax year other than a calendar year, and being busy with tax preparation is not considered a valid business purpose.

A Partnership Cannot Elect to Use a Tax Year Other