SOUND EFFECTS INC CHANGED ITS TAX YEAR FROM A CALENDAR TO A FISCAL YEAR ENDING FEB.28,2019. FOR THE SHORT YEAR TAXABLE INCOME OF 80,000. TAXABLE INCOME FOR THE 12 MONTH PERIOD IS 200,000. SOUND EFFECTS FILED A TAX RETURN FOR THE SHORT PERIOD AND PAID TAX BASED ON THE GENERAL METHOD. SOUND EFFECTS IS CONSIDERING FILING AN ELECTION UNDER THE EXCEPTION RULE AND REQUESTING A REFUND OF ANY OVERPAYMENT. HOW MUCH IS SOUND EFFECTS OVERPAYMENT IF IT MAKES THE ELECTION UNDER THE EXCEPTION RULE FOR THE SHORT YEAR.

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