S Corporation (Form 1120S): Formation to Liquidation
Wednesday, May 6, 2026
9 a.m.-4:40 p.m. Central
8 CPE (8 technical) | 8 IRS CE
Course code: 26WA-1414
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With the increasing complexity and ever-changing nature of tax laws and issues, today's accountant needs a S corporation course focusing onthe birth, growth, maturity, and death of a closely held S corporation. This case driven course will deal with S corporation income tax laws from formation to liquidation.
Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com
Major subjects
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Extensive review of the S corporation tax laws with an emphasis on any new legislative changes
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Requirements to make an S election (i.e., types and numbers of shareholders and second class of stock issues)
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Fixing late S corporation elections (i.e., Form 2553)
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S corporation formation (Section 351) and liquidation issues
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Revocation and termination of S corporations
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Schedule K and K-1 -- separately stated versus non-separately stated income and expense items
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Detailed Schedule K-1 reporting including the 20% qualified business income (QBI) deduction and 3.8% net investment income tax
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Compensation issues including the tax treatment of fringe benefits
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Built in gains tax and other planning opportunities when converting a C to S corporation
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Preparation of the Schedule M-2 and the ordering rules for distributions out of the AAA, PTI, E&P and OAA accounts
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Tax treatment of stock redemptions (sale or distribution?)
Learning objectives
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Form a S corporation and calculate the entity's initial inside basis in the assets and shareholder's stock basis
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Understand the operational issues during the growth and maturity of a S corporation and how the schedule K items get allocated to the shareholders on their individual Schedule K-1 effecting stock and debt basis
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Prepare a Schedule M-2 and determine how distributions are treated to the shareholders
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Comprehend the tax ramifications of liquidating a S corporation and the sale versus redemption of a shareholder's stock
Who should take this program?
- Tax professionals (in public or private industry) seeking a case driven income tax return course addressing many common, yet complex Federal S corporation issues and problems
Pricing
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Standard Member Fee |
$300.00
|
 Standard Nonmember Fee |
$300.00
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