Tag Archive: "s corporation"
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S Corporations Should Monitor and Track Shareholder Deaths
As shareholder groups continue to age, we are seeing more S Corporation banks encountering difficult to navigate issues involving shareholder deaths. S Corporations should remain vigilant to ensure that they don’t put their S Election at risk or cause headaches for the bank or its shareholders. Estates as Shareholders An estate is an eligible S […]
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IRS Will Begin Sending Notices to S Corp Shareholders Who Don’t Report Basis
S Corp shareholders are now required to attach basis schedules to their personal tax returns annually. We received word this week that the IRS will begin sending notices to shareholder who don’t comply with the new requirement.
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S Corp Versus C Corp: To Stay or Not to Stay, That Is the Question!
We are engaged in various discussions with our bank clients related to the tax reform and whether it makes sense to remain an S corporation.