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1. The original tax return due date for a calendar corporation is generally April 15. 2. Code Sec. 351 only applies to the organization of
1. The original tax return due date for a calendar corporation is generally April 15. 2. Code Sec. 351 only applies to the organization of a corporation, not to transfers to an already existing corporation. 3. Individual A, an accountant, receives 50 shares of stock for services in connection with the organization of X corporation. Individual A has ordinary income to the extent of fair market value of the 50 shares
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