Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2026 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
Join expert Greg White for a fast-paced in-depth examination of 2023 S corporation developments.
Publication Date: January 2024
Topics Covered
- 50% restaurant meals limit is back for 2023 returns
- Augusta rule
- Changes in Form 1120-S
- Beneficial ownership reporting in effect now
- S corp terminations
- "Closing the books" election
- SECURE 2.0
- Required E-filing for 1099's and W-2s
- Strategies for TCJA phaseout
Learning Objectives
- Describe IRS update guidance on automatic fix on second class of stock terminations
- Identify dangers of distributing appreciated property
- Identify new IRS private letter ruling on late election to close books of S corporation
- Recognize how to apply artificial intelligence to determine reasonable compensation for shareholders
- Identify the Revenue Procedure released in 2022 to allow S corps to automatically fix terminations as result of having 2 classes of stock
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
Basic understanding of S Corporations.
Advance Preparation
None
Instructor
Greg White
Greg White, CPA, taught for 14 years as an adjunct professor for Golden Gate University. He’s admitted to practice before the United States Tax Court. He is a founder and shareholder, in WGN PS in Seattle, WA. He has been named a Top 50 IRS Representation Practitioner in the U.S. by CPA Magazine and has taught for a number of professional organizations. Greg enjoys the technical side of tax, but also likes to have fun in class.