Multiple Choice
Which statement is incorrect with respect to an S shareholder's consent?
A) An S election requires a consent from all corporate shareholders.
B) Both husband and wife must consent if one owns the stock as community property.
C) A consent extension is available only if Form 2553 is filed on a timely basis, reasonable cause is given, and the interests of the government are not jeopardized.
D) A consent must be in writing.
E) None of the above statements is incorrect.
Correct Answer:
Verified
Correct Answer:
Verified
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