Essay
Shea, an individual, is a 100percent owner of Mets Corporation (an S corporation). Mets is a calendar-year taxpayer. On February 16, 2020, Mets filed an election to terminate its S election. Assuming Mets does not specify an effective date for the termination, what is the effective date of the termination?
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January 1, 2020.
Mets filed th...View Answer
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Correct Answer:
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Mets filed th...
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