Event Description

Introduction to all forms necessary to comply with requirement for filing a federal income tax return for an “S” corporation and providing information to its shareholders. Recognize when a special form is required. Emphasis on what’s new or different from prior years.

Designed For

All CPAs, EAs, Attorneys, and their associates and assistants who will provide tax advice and compliance service to ‘S’ corporations and their shareholders.

Objectives

Efficient preparation of forms required for tax compliance and to avoid penalties. Know how and when to disclose a transaction. Understand need to segregate corporation’s business from shareholders. How to report distributions and account for them in shareholder’s return. Form and content of schedule of AAA, basis, and non-deductible items.

Major Subjects

Content of Form 1120-S and any disclosures required to be attached. Special attention to information required for participation in a listed transaction. Type and form of required attachments.