MMS corporation has 300 shares of stock outstanding. Marvin Sr., the founder of the corporation owns 100 shares. The other 200 shares are owned are owned by his son Marvin Jr. and his daughter Susan, each of whom owns 100 shares. Marvin Sr. wishes to retire from active involvement in the company, and have the corporation redeem his stock for its current fair market value of $250,000. His stock basis is $50,000. What steps must Marvin Sr. take in order to ensure that selling his stock back to the corporation will be treated as a redemption? What are the tax consequences for Marvin Sr. if he is unable to have this transaction treated as a redemption