New IRS Rules for S Corporations: Activity and Basis Reporting, NRAs, QBI, and IRS Basis Audits
Recording of a 110-minute CPE webinar with Q&A
This webinar will address the latest Subchapter S corporation tax issues. Our panel will discuss the requirements to include basis schedules in individual income tax returns, separate activity reporting in Form 1120-S, nonresident aliens and ESBTs, and preparing for the current IRS initiative focusing on audits of S corporation basis.
Outline
- Basis reporting
- Separate reporting of activities
- Specific IRS challenges to S corporations
- Nonresident aliens as ESBT beneficiaries
- QBI calculations and reporting
- New 1371(f) regulations
- Other S corporation developments
Benefits
The panel will review these and other key issues:
- Updating basis schedules to prepare for IRS challenges
- Calculating and reporting QBI flow-through items
- Handling separate reporting of activities
- Current court cases and challenges to S corporations
Faculty
Kevin Anderson
Managing Director, National Tax Office
BDO USA
Mr. Anderson's practice is focused in the areas of mergers and acquisitions, S corporations, Ccorporations,... | Read More
Mr. Anderson's practice is focused in the areas of mergers and acquisitions, S corporations, Ccorporations, consolidated returns, leasing, capitalization and cost recovery, and related tax accounting issues. He has advised corporate clients for many years in their formation, conversion, operations, compliance, reorganization, and sale. Mr. Anderson provides technical leadership to the firm and its clients in the areas of corporate tax, and previously served a leading role in the development and implementation of the firm’s national tax training efforts. He was recently appointed as the firm’s technical practice leader for corporate tax matters.
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Professor Robert W. Jamison, CPA
Professor Emeritus of Accounting
Indiana University
Mr. Jamison is Professor Emeritus of Accounting at Indiana University, Purdue University, Indianapolis (IUPUI). His... | Read More
Mr. Jamison is Professor Emeritus of Accounting at Indiana University, Purdue University, Indianapolis (IUPUI). His principal area of specialization is S Corporations. He is the sole author of S Corporation Taxation, and co-author of Multistate Tax Guide to Pass-Through Entities, both of which are published annually by CCH, a Wolters Kluwer business. He is a regular contributor to Land Grant University Tax Education Foundation, Inc. National Income Tax Workbook and has contributed to Federal Tax Workshop. He presents advanced and update S Corporation seminars for various states' CPA societies and to other professional organizations. He is a member of the AICPA S Corporation Technical Resource Panel. He consults on S corporation and other business entity problems and has secured letter rulings from the IRS.
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