The IRS may consent to an early reelection of S corporation status after a termination under which of the following?

Multiple Choice

• The corporation is now owned more than 10 percent by shareholders who were not owners at the time of termination.

• The corporation is now owned more than 60 percent by shareholders who were owners at the time of termination.

• The termination was not reasonably within the control of the corporation or shareholders with a substantial interest in the corporation and was not part of a planned termination by the corporation or shareholders.

• The corporation had only two ineligible shareholders at the termination date.

• None of the choices are correct.