S Corporation Core Tax Issues From Formation Through Liquidation Webinar

Jan 10
10:00 a.m. - 6:00 p.m.

Online

8-Tax
CPE Credits

As experienced staff masters the preparation intricacies of an 1120S tax return, they are expected to understand and apply the underlying concepts, principles and laws governing S corporation status. This course is designed to illustrate in both theory and practice overarching principles that govern S corporations from formation to revocation, termination and liquidation. Experienced client-facing staff should be aware of the pitfalls that may inadvertently cause an S-status termination or may generate unintended tax consequences to shareholders.
Highlights

What exactly is terminating S corporations, updated for 2020/2021 rulings
Shareholder changes Living Trust and causes S termination
LLCs electing S status, changing agreement could terminate election
Basis calculation worksheet
Inherited a new client with reporting errors? What are my options?
Debt vs. equity and §385; Federal Express battled and won, how do we?
Are we to expect SECA tax on pass-through entities?
Tracking multiple shareholder debt basis. Revamped 1120S K-1 form and instructions
Impact of CARES and Tax Relief Acts of 2020: Section 163(j) modifications, effect of PPP loan forgiveness on partners’ outside bases
Shareholders losing "substance over form" argument
Basis neither increased by phantom income, nor reduced by non-deducted pass-through losses
Can I accrue expenses payable to a shareholder? Sure, but can I deduct them?
How §179 limitations affect S corp. basis
Comparison of liquidation of a C corporation vs. the liquidation of an S corporation
Did not timely file Form 2553? A simple method to correct
Is there a “flexible standard of law” in regard to closely held entities?

Registration

PICPA Member: $259
Nonmember: $359

More Information

Course No. SCTI-2023-01-WEBNR-10-01 Level: Intermediate

Prerequisites: Basic knowledge of and experience with S corporation taxation

Notes
This webinar is hosted by PICPA's partner, Surgent CPE. After registering, you will receive an email from Surgent CPE with the log-in information.