Ideas & Insights

When determining whether an S corp distribution is a dividend, Arkansas taxpayers must use state-specific AAA rather than federal AAA.

Notice 2020-23 clarifies that most filing, payment and election obligations for S corporations and partnerships is postponed until July 15.

CARES Act provides general increase to the limitation amount (i.e., the maximum allowable deduction) and special rule for partnerships

IRS to issue guidance aimed at providing relief for S corporations that might have jeopardized their S status.

An analysis of moving from pass-through to C corporation must consider the implications of conversion on the owner’s estate planning.

Tax Court concludes that use of intermediary company prevented shareholders from utilizing debt to claim pass-through losses.

The IRS will begin sending letters to S corporation shareholders who claimed flow-through losses as soon as late October.

The tax court concluded that constructive ownership rules cause deductions to be deferred until participant includes amount in income.

Speaker of the House Paul Ryan suggests that Obamacare taxes will not be touched by future tax reform, but questions continue.

The IRS ruled that disproportionate distributions resulting from incorrect ownership information did not terminate subchapter S status.