Multiple Choice
Which statement is incorrect with respect to an S shareholder's consent?
A) 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.
B) Both husband and wife must consent if one owns the stock as community property.
C) An S election requires a consent from all of the S corporation's shareholders.
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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