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

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


Instructional Method
Group: Internet-based

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of S Corporations.

Advance Preparation

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