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Tax Implications of Built-in Gains (BIG) Tax Self-Study

Summary

S corporations are pass-through entities, so they generally do not pay federal income tax at the corporate level. However, some S corporations may be subject to the built-in gains (BIG) tax on Form 1120-S, U.S. Income Tax Return for an S Corporation. This most commonly applies to S corporations that were previously a C corporation. To help S corporations plan for, or better yet avoid, the BIG tax, it’s important tax professionals recognize when S corporations are subject to this tax. This course reviews all the rules and tax implications of the BIG tax.

Objectives

Upon completion of this course, you will be able to:

  • Identify assets subject to the built-in gains (BIG) tax
  • Calculate the BIG tax
  • Summarize the BIG tax reporting requirements

Course Details

This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.






   

Presented by:

How to Earn CPE

To receive credit for this self-study course, you must successfully pass the course exam with a score of 70% or better.

Self-study courses and exams generally expire one year from the date of purchase. The AFTR course expires on December 31 of each year as required by the IRS.

Cancellation Policy

​Because this is an online education offering, it is nonrefundable.

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