The IRS issued a private letter ruling on I.R.C. §§1361 and 1362, confirming that S corporation status remains intact when trust beneficiaries fail to make timely qualified subchapter S trust ...

If you have business clients who are considering changing their LLCs or C corporations into S corporations, now is a great time to discuss the pitfalls.

This is where S-Corporation status distinguishes itself. An S-Corporation is still a pass-through for federal income tax, but it adds a layer of payroll structure. The IRS states that S-Corporations ...

An IRS letter ruling allowed an otherwise qualified corporation to continue to be treated as an S corporation for federal income tax purposes despite its inadvertent termination of its S corporation ...

Situation: Your client owns a small business that operates as a subchapter S corporation. She elected S corporation status when the individual tax rates were lower than those for a C corporation. When ...

What Is an S Corp? An S Corporation is a specific type of corporation that is designed to avoid the double taxation issue that regular corporations (C Corporations) face. S Corp elects to pass ...

An S Corporation is an IRS tax classification that allows an eligible entity to be a pass-through entity for tax purposes. This means that the business owners will report their share of business ...