Fringe Benefits By Lauren Foley, MSA As Dec. 31 approaches, an important consideration for employers is proper payroll ...

An IRS letter ruling allowed an otherwise qualified corporation to continue to be treated as an S corporation for federal income tax purposes despite its inadvertent termination of its S corporation ...

Situation: Your client owns a small business that operates as a subchapter S corporation. She elected S corporation status when the individual tax rates were lower than those for a C corporation. When ...

IRC section 1363(d) generally requires a C corporation that elects to become an S corporation to include a “Lifo recapture amount” in its gross income. The amount is the difference between the ...