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Both S Corps and partnerships have rules on permissible tax years, and cannot just use whatever tax year they like. What are the rules for

Both S Corps and partnerships have rules on permissible tax years, and cannot just use whatever tax year they like. What are the rules for each? Compare and contrast them, since they are not exactly the same. Why does the government worry about this? What is the government worried about?

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Answer Same as the C corporations however like the partnerships the S corporations have not allowed ... blur-text-image

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