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Advanced S Corporations

 

 

Course Year: 2013
Course Level: Advanced
Prerequisite: Intermediate knowledge of S corporation taxation
Advance Preparation: None
Delivery Method: Self-Study

Note: This course is comprised of several topics. You have the option to purchase the following topics individually: Insolvency and Bankruptcy of S CorporationsLiquidation and Post Liquidation IssuesQualified Subchapter S SubsidiariesStock Sale Treated as an Asset Sale or Trusts as Shareholders.

If you purchase one of the self-study Unlimited E-Education packages you will have access to all of the topics above.  The Advanced S Corporation Self-Study is comprised of those individual topics.

CPE Credits Designation Field of Study
IRS * 8 EA Federal Tax Law Topic
NASBA 0 CPA N/A
CTEC 8 CRTP Federal Tax Law Topic
CFP Board 0 CFP® N/A

 

* NATP will report CPE credits to the IRS for all PTIN holders. CPE is currently not mandatory for RTRPs or RTRP candidates and any option to register or participate in this program is strictly voluntary.

 

Fees: $104 for Members and $120 for Nonmembers

Summary

This course is designed for tax professionals who have substantial experience preparing S corporation returns and now want to explore advanced S corporation topics. Amp up the level of service provided by learning about QSubs, QSSTs and ESBTs. Discover how to treat stock sales as asset sales, handle insolvent or bankrupt S corporations and liquidate S corporations.  

Objectives
Upon completion of this course, the tax professional will be able to:

  • Determine if S corporation is eligible to make QSub election.
  • Explain tax effects of making QSub election.
  • Elect to treat stock sale as an asset sale under §338(h)(10).
  • Discuss tax effects on buyer and seller when stock sale is treated as an asset sale.
  • Identify trusts eligible to be S corporation shareholders, including QSSTs and ESBTs.
  • Discuss reporting requirements and taxation of S corporation that is bankrupt or insolvent.
  • Explain tax consequences of liquidating an S corporation.
  • Determine proper tax treatment of post-liquidation income or expenses.

For more information regarding refund, complaint and/or program cancellation policies, please contact our Member Services Department at 800.558.3402, ext. 3.

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PO Box 8002, Appleton, WI 54912-8002 Phone: 800.558.3402 Fax: 800.747.0001

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