S Corporation Update: Developments You Need to Know (Completed)
Date: Thursday, January 26, 2023
Instructor: Greg White
| Begin Time: |
11:00am Pacific Time
12:00pm Mountain Time
1:00pm Central Time
2:00pm Eastern Time |
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Law Updates for EAs and OTRPs
2 hours Federal Tax Updates for CTEC |
|
Join expert Greg White for a fast-paced in-depth examination of 2022 S corporation developments.
Who Should Attend
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Topics Covered
- IRS clarifies how to fix inadvertent S corp terminations involving impermissible second class of stocks
- IRS clarifies when a shareholder loan can terminate S corp status
- Important revisions to Form 7203 (shareholder basis reporting)
- New exceptions to K-2 and K-3 reporting for 2022 Forms 1120S
- IRS goes after tax practitioner whose clients fail to report reasonable compensation
Learning Objectives
- Apply the rules to automatically fix second class of stock terminations
- Determine whether shareholder loans terminate S corp status
- Avoid preparer penalties for insufficient reasonable compensation
Level
Update
Instructional Method
Group: Internet-based
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
Basic understanding of S Corporations.
Advance Preparation
None
