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Suppose a calendar-year C corporation, NewCorp, Incorporated, was formed on January 1, 2020, and all of the shareholders (Hassell, Richie Cunningham, and Arnold's, Incorporated, a C corporation) filed a Form 2553 to elect S corporation status on April 14, 2020 When is the S election effective?
a. Never
b. April 14, 2021
c. April 14, 2020
d. January 1, 2021
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Answers: 2
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Suppose a calendar-year C corporation, NewCorp, Incorporated, was formed on January 1, 2020, and all...
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