2022 S Corporation Update: Developments You Need to Know
Author: Greg White
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Law Updates for EAs and OTRPs
2 hours Federal Tax Updates for CTEC |
We’ll cover a brand new “Practice Unit” released by the IRS in 2022. We’ll also cover new cases, changes in Form 1120S, and new administrative guidance.
Publication Date: November 2022
Designed For
null
Topics Covered
- New cases addressing reasonable compensation for shareholders
- Changes to Form 1120S Schedule K-1
- IRS Form 7203
Learning Objectives
- Recognize how to determine proper reasonable compensation for shareholders
- Identify circumstances where S corp status is inadvertently terminated (and how to fix inadvertent terminations retroactively)
- Describe rules for computing reasonable compensation for shareholders
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
Basic understanding of S Corporations.
Advance Preparation
None
