ACPEN Signature 2026: S Corporations Update

Overview

Subchapter S corporations continue to be popular because of employment tax advantages and accounting ease.  But, taxpayers continue to make errors in making and maintaining their Subchapter S elections.  Meanwhile, the cost of remedial rulings has been dramatically reduced for some while others can now face a $43,700 filing/user fee plus professional fees just to get relief. Practitioners need to be alert as to planning opportunities and pitfalls. This ACPEN course will include a panel of national tax practitioners and experts reviewing these complex rules as well as the latest judicial, legislative and regulatory developments.

*Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com

Objectives

• Analyze and interpret IRS Form 2553 to understand its purpose, requirements, and filing process.
• Identify the eligibility criteria and requirements for electing S corporation status, including shareholder and stock limitations.
• Identify common errors that can result in the inadvertent termination of S-Corporations, apply corrective measures to resolve these issues, and avoid pitfalls such as the Built-In Gains tax. They will also recognize and address employment tax issues.

Highlights

• Making the S election.
• Per share per day accounting rules.
• Revenue procedures for curing various errors that can adversely affect S status.
• Regulatory safe harbors for routine commercial agreements.
• Employment tax issues.