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Sessions | Instructor | Event Registration |

Event Information

S Corporations: Converting to C Corporation Webcast | 4203334A
Date: July 9, 2020
Event Start time: 10:00 AM   End time: 12:00 PM
Location: Webcast

Facility: Webcast Rebroadcast

 


Member:       $75
Nonmember: $101

CPE Credits:

2.00 CPE: Continuing Professional Education Technical
2.00 CTEC-TX: CTEC - Federal Tax Law Hours Technical
2.00 IRS-TX: IRS Federal Tax Update Technical
1.50 MCLE LS-TX: Legal Specialization-Taxation Law Technical
1.50 MCLE: MCLE Technical


Electing S corporations may find it desirable or necessary to terminate this election and convert to a C corporation. We'll consider situations when such a conversion is desirable.

Identify and discuss tax planning opportunities and complications at conversion. Limitations on re-electing S corporation status are discussed and evaluated. Also, consider recent and pending legislation.


Objectives:
  • Discuss and analyze situations where terminating an S corporation election could be desirable.
  • Consider common situations where S election may involuntarily terminate.
  • Understand the process and tax planning opportunities related to a voluntary revocation.
  • Evaluate complication related to mid-year termination of S corporation status.
  • Discuss and evaluate limitations on re-electing S corporation status.
  • Consider recent and proposed legislation which could affect the decision to terminate the S corporation election

Major Subjects:
  • Reasons to terminate an S corporation election
  • Involuntary terminations
  • Voluntary revocations the process and the consequences
  • Tax planning opportunities related to termination of S corporation status
  • Complications arising from a mid-year termination
  • Limitations on re-electing S corporation status
  • Recent or proposed legislation affecting decision to terminate the S corporation election

Level of Difficulty:
Overview

Field of Interest:
Taxes

Prerequisites:

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


Designed For:

CPAs and attorneys.


Advanced Prep:

None