Staff Tax Training: S Corporations (Form 1120S)
Multi-day course:
Tuesday, Aug. 11-Wednesday, Aug. 12, 2026
10 a.m.-5:30 p.m. Central
16 CPE (16 technical)
Course code: 26WC-0303
View pricing
- Monday, June 8-Tuesday, June 9, 2026 - Webinar
This two-day training course provides a comprehensive understanding of the Federal income tax laws applicable to S corporations and their shareholders. The cornerstone of this course is the integration of the most recent tax laws and theories into real-world case scenarios and preparing and reviewing the IRS tax forms and schedules. Attendees will receive a comprehensive S corporation income tax reference manual that includes practice aids, real-world examples, new Federal income tax forms and programs, and Pat Garverick's Quick Reference Chart. This session is taught using a hands-on methodology. Real-world examples and cases demonstrate the complex income tax code and regulations to enhance the participant's learning experience. Each participant will receive a comprehensive S corporation income tax reference manual that includes numerous practice aids, real-world examples, new Federal income tax forms and schedules, and Pat Garverick's Quick Reference Chart.
Major subjects
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An extensive review of the S corporation tax laws with an emphasis on any new legislative changes Form 1120S (and related schedules) preparation issues
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S corporation formation issues and liquidations
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Form 2553 S corporation elections and late IRS election procedures
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Schedule K and K-1'preparation issues including separately and non-separately stated income and expense items (including the 20% qualified business income (QBI) deduction, 3.8% net investment income tax, business interest deduction limitations, fringe benefits and entertainment expenses)
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S corporation revocation and termination and allocation of income during short S and C corporation years
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Unreasonably low officer compensation issues
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Tax treatment of fringe benefits paid to 2% shareholders and family members
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Schedule D'built-in gains (BIG) tax computation and planning opportunities when converting from a C to S corporation
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Excess passive investment income tax issues
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Schedule M-2'detailed step-by-step analysis of the AAA, PTI, E&P and OAA accounts and look at the tax treatment of distributions when the S corporation has prior C corporation earnings and profits (E&P)
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Overview of calculating a shareholder's stock and debt basis and discuss how S corporation losses and deductions can be limited to basis and the at-risk rules
Learning objectives
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Understand the Federal income tax laws applicable to S corporations and their shareholders from formation to liquidation (i.e. theory) and apply this from a tax-form perspective (i.e. tax preparation)
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Prepare a complete Form 1120S income tax return and related schedules with minimal review points
Who should take this program?
- Tax return preparers, staff accountants, and paraprofessionals with little or no experience; out-of-practice public accountants seeking a comprehensive basic S corporation income tax course
Pricing
|
Standard Member Fee |
$589.00
|
 Standard Nonmember Fee |
$779.00
|
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