Relief for Inadvertently Invalid S Elections, QSub Elections, and Terminations
Qualification as an S corporation may be critical to achieving a business’ tax objectives; however, the S corporation rules contain many traps for the unwary. In particular, S corporations may inadvertently invalidate or terminate their S elections. Qualified subchapter S subsidiaries, or QSubs, may face similar issues. Section 1362(f) of the Internal Revenue Code provides […]
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