This article provides some brief insight surrounding the initial steps in making an S election. The entirety of issues that may arise can often be mitigated, if not entirely avoided, with proper tax ...

The IRS issued a private letter ruling on I.R.C. §1362, confirming that S corporation status will continue despite inadvertent termination when trusts holding corporate shares fail to file the ...

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 ...

*This article was updated on March 20, 2025. Section 1202 provides for a substantial exclusion of gain from federal income taxes when stockholders sell qualified small business stock (QSBS).[1] But a ...

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 ...

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 ...

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 ...