Partnerships, S corporations, and C corporations classified as personal service corporations can elect to use a tax year other than a required year (e.g., a fiscal year ending at the end of September, October, or November when their owners all use a calendar year); this is called a Sec. 444 election. The deadline for the election: the earlier of May 15 for the year the election is to be effective or the due date of the return (without extensions) for the year resulting in the election. See instructions to Form 8716 for details and talk with your tax advisor.
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