1120-S Preparation and Strategies: Part 4 (2024) (Currently Unavailable)

Author: Greg White

Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2027 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

This course is the fourth in a series of classes authored by Greg White that provides a step-by-step approach to completing Form 1120-S, with deep dives into important topics to successfully prepare Form 1120-S.

Publication Date: May 2024

Designed For
Tax professionals who prepare S corporation income tax returns

Topics Covered

• Common reasons for S corporation terminations
• Trusts and estates as S corporation shareholders
• Minimizing the difficulty of preparing Schedule M-3
• Retirement plans for S corporations

Learning Objectives

• Recognize circumstances that terminate an S corporation, and more importantly, how to avoid termination
• Describe fixing terminated S corporation elections
• Recognize how to reduce built-in gains tax and excess net passive income taxes
• Identify the maximum number of classes of stock an S Corp is permitted to have
• Identify the IRC section that allows the IRS to retroactively fix S Corp terminations to fix an inadvertent termination caused by an ineligible shareholder

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
None

Advance Preparation
None