Business & farm

Thank you, Tagteam!

 

Do I understand the article correctly that if I want to revoke retroactively, I can only go back to the beginning of the current calendar year and not back to 2018?

 

Someone told me that if I revoke the S corp election I will have to wait 5 years to be allowed to re-elect.. do you know if it's true?

 

Thanks so much an happy holidays!