Partnerships and S corporations may elect a year that does not end on December 31 if: a.
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Question:
Partnerships and S corporations may elect a year that does not end on December 31 if:
a. A business purpose for the year can be demonstrated.
b. The entity retains the same year as was used for fiscal year ending in 1987 , provided the entity agrees to make required tax payments.
c. The partnership's or S corporation's year results in a deferral of not more than three months' income and the entity agrees to make required tax payments.
d. a and c only
e. All of the above
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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