Question: TRUE OR FALSE: - A sole proprietor must use the same tax year for her business as she uses for personal purposes. - An S

TRUE OR FALSE:

- A sole proprietor must use the same tax year for her business as she uses for personal purposes.

- An S corporation may adopt a fiscal year without IRS permission

- A taxable year may be as short as one day or may exceed 360 days

- An estate must adopt a calendar year

- Under no circumstances may a corporation change its fiscal year without advance IRS notice

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