This program addresses the critical issues and special opportunities facing S-corporations, with a review of recent legislation its impact on the tax structure S- and C-corporations. A key focus of this program will be on shareholder basis and how to calculate and report it.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.
DESIGNED FOR
Experienced practitioners with S-corporation clients and members in industry working for an S-corporation, or those seeking and update on thorny S-corporation issues
BENEFITS
- Apply the latest tax rules and regulations of S-corporations
- Identify the impact of recent legislation, including the TCJA and the CARES Act
- Identify filing deadlines and extentions
- Distinguish and define complex S-corporation issues
HIGHLIGHTS
- Recent tax legislation, rules, and developments impacting S-corporations, including TCJA, SECURE Act and COVID-19 related provisions
- Accounting periods and methods
- New Section 163(j) business interest expense limitation
- Filing deadlines and extensions
- Cash method of accounting and inventories
- Percentage of completion
- Basis of stock and debt
- Reporting on Schedule E
- Shareholder basis
- Basis of indebtedness
- S corporation open account debt
- Limitation of deduction of losses
- AAA and distributions
COURSE LEVEL
Intermediate
PREREQUISITES
Basic working knowledge of S-corporation taxation
ADVANCE PREPARATION
None
ADDITIONAL NOTES
IRS Program Number: 90EKV-T-00380-21-O. Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).