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Webcast

S Corporations: 2023 Foot-Faults and Fix-Its

Explore S corporation compliance with expert guidance on status maintenance and remediation strategies.

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$98.00

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CPE Credits

2 Credits: Taxes
Course Level
Basic
Format
Webcast

Course Description

Before S Corporations: 2023 Foot-Faults and Fix-Its, professionals dealing with S Corporations might find themselves in a quagmire of compliance issues, struggling to understand the intricacies of maintaining their S Corporation status. Missteps in elections and stock classifications can lead to significant tax implications and legal complexities.

This S Corporation accounting CPE serves as a bridge to navigate these challenges effectively. It offers an in-depth analysis of the common causes of noncompliance within S corporations and the available remedies. You will learn the differentiation between issues that can be addressed at the IRS Service Center level and those that necessitate a ruling from the IRS National Office. The online S Corp accounting CPE course also delves into the specific challenges of limited liability companies that choose S Corporation status, providing clear guidelines for internal corrections and when to seek external rulings. Post-course, you will be adept at identifying and resolving compliance issues, ensuring the stability and benefits of S Corporation status for your clients or organization, and enhancing your role as a trusted tax advisor.

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Learning Objectives

Upon completion of this course, participants will be able to:

  • Identify frequent causes of noncompliance with Subchapter S;
  • Evaluate the remedies available for late S corporation elections, late trust elections and violations of the single class of stock requirement;
  • Be aware of the hazards of limited liability companies electing S corporation status;
  • Distinguish the need for a ruling, application to the Internal Revenue Service Center and internal corrections of the problems.
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Course Specifics

Course ID
WC1823328425
Revision Date
April 25, 2023
Prerequisites

None

Advanced Preparation

None

Compliance Information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02621-24-O
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-01912
CTEC Federal Tax Law Credits: 2

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.

Meet The Experts

Robert W. Jamison, CPA, Ph.D.

Robert “Bob” W. Jamison, CPA, Ph.D., is Professor Emeritus of Accounting at Indiana University, Purdue University, Indianapolis (IUPUI). His principal area of specialization is S Corporations. He is the sole author of S Corporation Taxation, and co-author of Multistate Tax Guide to Pass-Through Entities, both of which are published annually by CCH, a Wolters Kluwer business. He is the author of the 2022 edition of Essentials of Federal Income Taxation, published annually by CCH, a Wolters Kluwer business. Bob is a well-known author and speaker on S Corporations. He is curator of Wolters Kluwer Answerconnect Topic “S Corporations” and subtopics …

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