Tax Issues for S Corps: Federal and State Tax Challenges, Planning Considerations for Taxpayers CPE

Join Allen Gregory and Rick Wagner for a live 90-minute CPE webinar exploring key tax law regulations and developments impacting S Corporations.

Wednesday, September 2, 2020 @ 1:00 pm – 2:50 pm EDT

Early registration discount deadline, Friday, August 7, 2020

This webinar will guide tax professionals on critical tax challenges and recent developments for S corporations. The panel will discuss key tax law regulations and developments impacting S corporations, IRS guidance, the impact of the CARES Act and related PPP loan forgiveness, QBI deduction, issues of cash distributions, class of stock and deferred compensation, and transfers of interest.

The panel will also discuss pitfalls to avoid under current tax law and offer tax planning techniques for shareholders. S corporations provide significant advantages to shareholders with pass-through taxation. However, tax professionals often fail to recognize crucial distinctions from other pass-through entities, critical issues under current tax law and other recent developments.

Listen as our panel of CPAs and tax attorneys examines the different tax issues of the S corporation that create problems for professionals, whether to retain S corporation status, elect S corporation status and/or convert to C corporation status, the impact of business interest limitations, and a host of other vital issues. This CPE will cover:

• Brief overview of tax challenges of S corps
• Impact of recent regulations and IRS guidance
  1. CARES Act tax reform
  2. SECURE Act
  3. PPP loan forgiveness and related considerations
• Challenges related to equity and incentive grants, options, etc.
• Transaction planning considerations

The panel will review these and other key issues:

• What are the critical tax challenges of S corporations under current tax law?
• What issues arise for cash distributions, class of stock, deferred compensation, and transfers of interest?
• What are the factors to consider in determining whether to retain or elect S corp status or convert to C corp?
• Should considerations of Sec. 1202 be a part of the analysis?
• What is the impact of recent guidance on Sec. 163(j) limitations and carried interest regulations?
• When selling equity interest in an S corporation, what are the pitfalls?
• Under what circumstances is an LLC or partnership entity choice preferred over an S corp?

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