FICPA Podcasts

Federal Tax Update: Fragile: Handle with Care - S Corporations

May 6, 2019

https://player.vimeo.com/video/334209666

https://www.currentfederaltaxdevelopments.com/podcasts/2019/5/4/2019-05-06-fragile-handle-with-care-s-corporations

Current Federal Tax Developments for the week of May 6, 2019: Fragile: Handle with Care - S Corporations

  • Taxpayer’s marriage forces repayment of advance PTC, unfairness is not a defense

  • State tax refundable credit in excess of taxes is taxable income to taxpayer

  • IRS expands determination letter to cover a limited number of existing plans

  • LLC operating agreement adoption terminates S election