1362(b)(5) now gives the IRS the power to correct inadvertent errors in electing
S status if the taxpayer shows that it made the mistake inadvertently, qualified to be an S corporation and acted as though it were an S corporation.
92-67 outlines the process of electing
to amortize market discounts and method of amortization.
When voters cast ballots in November for those leaders, they will actually be electing
a group of representatives called --
large LLCs, the statute of limitations (SOL) runs for three years from the later of the last day for filing the LLC's return or the date such return was actually filed.
If there is both an executor and a trustee, the trustee of the electing
trust must timely provide the executor of the related estate with all of the trust information necessary to permit the executor to file a complete, accurate and timely Form 1041 for the combined electing
trust and related estate for each taxable year during the election period [Treas.
TO RECEIVE IRA distributions over a fixed number of years means the ultimate beneficiaries can continue payments for the remaining fixed number of years the distribution option survives the taxpayer's death.
NEW YORK -- Tri-Continental Corporation (NYSE: TY) today announced that a Special Meeting of Stockholders has been called for September 28, 2006 for the purpose of electing
three Directors and voting on an amendment to the quorum provisions in the Tri-Continental Charter.
To make an election out, a taxpayer must attach a statement to his or her gift tax return identifying the trust and stating that he or she is electing
out of the automatic allocation of GST exemption with respect to the described transfer(s) (the election-out statement).
The accountability that comes from electing
someone to a post wasn't considered sufficiently important.
Shares: holders of 34,137 shares of Grey stock elected to receive cash;
The proposed regulations had permitted only two options for electing
out of the automatic allocation rules--transferors could elect out as to a current transfer only, or as to a current-year transfer and all future transfers to the same trust.
Of particular interest to her was seeing the present method of electing
board members from districts remain in place rather than a return to the at-large elections used before 1978.
2 million shares (46 per cent of the electing
shares) elected for cash consideration, and approximately 75.
If the transferor is electing
out under #1 or #2 above, the statement must specifically provide that the transferor is electing
, pursuant to Sec.
Based on the exchange election results, shareholders electing
Valero shares will receive, for each share of UDS common stock, approximately 0.