Self-Study

Surgent's Advanced Critical Tax Issues for S Corporations

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This course goes beyond the basics and addresses important practical issues that an experienced practitioner must know. Even if you have attended other S Corporation courses, you will learn something new in this course.

Major subjects

• Inclusion of OBBBA (One Big Beautiful Bill Act) provisions that are germane to this course.
• Final regulations on "eligible terminated S Corporations" (ETSCs).
• Cases, rulings, and tax law changes affecting S Corporations.
• Compensation planning in S Corporations, including limitations in a family-controlled business; self-employment tax issues, including IRS efforts to address underreporing of S Corporation officer compensation.
• Use of redemptions: still some advantages.
• Planning for the liquidation of an S Corporation.
• Tax issues for family ownership of S Corporation stock.
• Impact of the tax on net investment income on sales of S Corporation stock.
• Stock basis: Loss limitations, AAA, and distribution issues in depth.
• Debt basis: what the regulations on back-to-back loans mean to investors.
• Estate planning for S Corporation shareholders, including buy-sell agreements, QSubs, ESBTs, and uses of life insurance.
• Built-in gains: the 5-year recognition period.
• S Corporation structuring: one class of stock.
• Methods of accounting.
• Legislation on mortgage interest reporting, basis, statute of limitations, and tax return due dates.
• New cases on revocation of S election in bankruptcy court and documentation of open account indebtedness and Chief Counsel Advice on carryover of losses for ESBTs.

Learning objectives

• Understand how stock basis, AAA, and other limitations are determined.
• Appreciate how corporation planning can be used in an S Corporation to change the effects of the one-class-of-stock rule.
• Understand what S Corporation issues are being debated with the Service, settled in courts, and guided by administrative decisions.

Who should take this program?

• All practitioners and controllers who have attended a basic S Corporation course and want to understand more complex issues and their practical implications.

Pricing

Our records indicate you are a nonmember. If you register, you will be charged $199.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.

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