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Event Information

S Corporations: QSUB Elections Webcast | 4203333A CANCELLED
Date: July 16, 2020
Event Start time: 10:00 AM   End time: 11:00 AM
Location: Webcast

Facility: Webcast Rebroadcast

 


Member:       $39
Nonmember: $49

CPE Credits:

1.00 CPE: Continuing Professional Education Technical
1.00 MCLE: MCLE Technical


 
Consider the factors that determine whether a QSUB election should be made. Discuss topics covering both immediate and long-term tax consequences and the process necessary to make the election.

If an S corporation owns 100% of the stock of another corporation, the tax consequences of the operation of the subsidiary will depend on whether the S corporation makes a 'qualified subchapter S subsidiary election' (QSUB election). We'll examine the tax compliance requirements necessary to successfully make the QSUB election.

 

 

Objectives:
 
  • Recognize the immediate and long term tax consequences of making or not making a QSUB election.
  • Identify situations where the QSUB election can be made.
  • Analyze the result of the "deemed liquidation" including unusual facts which can create complications.
  • Discuss situations where the election could be desirable or undesirable.
  • Explain the tax compliance requirements necessary to successfully make the QSUB election.
  • Understand tax consequences of termination of QSUB election
 

Major Subjects:
 
  • Requirements that must be satisfied to make the QSUB election.
  • How to make the QSUB election.
  • Immediate tax consequences of election, "deemed liquidation."
  • Potential complications of "deemed IRC 332 liquidation."
  • Situations where the QSUB election could be desirable.
  • Situations where the QSUB election could be undesirable.
  • Longer term consequences of the decision to elect or not elect.
  • Terminations of QSUB election
 

Level of Difficulty:
Overview

Field of Interest:
Taxes

Prerequisites:
 

Understanding the basics of the taxation of corporations, and S corporations.

 

Designed For:
 

CPAs and lawyers.

 

Advanced Prep:
 

None.

 

Event Notes:
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