Tax Alert
Pending S corp guidance may provide relief for common "foot faults"
IRS to issue guidance aimed at providing relief for S corporations that might have jeopardized their S status.
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Ideas & Insights
Tax Alert
Questions at the intersection of choice of entity and estate planning
An analysis of moving from pass-through to C corporation must consider the implications of conversion on the owner’s estate planning.
Tax Alert
Tax Court disallows debt basis claimed by S corp shareholders
Tax Court concludes that use of intermediary company prevented shareholders from utilizing debt to claim pass-through losses.
Tax Alert
S Corporation shareholders should watch for letter from IRS
The IRS will begin sending letters to S corporation shareholders who claimed flow-through losses as soon as late October.
Tax Alert
S corporation denied deduction for amount payable to ESOP participants
The tax court concluded that constructive ownership rules cause deductions to be deferred until participant includes amount in income.
Tax Alert
GOP healthcare bill failure means net investment income tax lives on
Speaker of the House Paul Ryan suggests that Obamacare taxes will not be touched by future tax reform, but questions continue.
Tax Alert
S corporation status retained despite disproportionate distributions
The IRS ruled that disproportionate distributions resulting from incorrect ownership information did not terminate subchapter S status.