Senate Votes Down S Corporation Changes

A few days ago the Senate failed to pass Senate bill S. 2343, the “Stop the Student Loan Interest Rate Hike Act of 2012 which would have limited the ability of S corporation shareholders to classify payments…

Read More

Increased Audit Risk Accompanies Schedule C Filings

Joe Kristan reminds us once again of why you should not use the sole proprietor form of business: A scary headline:  “Freelance? An IRS audit may be in your future.” A Tax Court case yesterday…

Read More

TIGTA: Closely Held Businessmen More Likely to Structure Transactions to Avoid Taxes

The Treasury Inspector General for Tax Administration says the IRS needs to improve the quality of its audits of small corporations. Listen: TIGTA reviewed whether IRS examiners followed proper procedures and guidelines when auditing the returns of…

Read More

Compensation of S Corporation Shareholders

Tony Nitti has published a great piece over at The Tax Adviser which explains the current state of affairs on the issue of compensation of S Corporation shareholders. Here is the Executive Summary, but read…

Read More

A Defense of Pass Through Entities

Paul Caron reports that  Bradley T. Borden (Brooklyn) has posted a defense of pass-through entities in Three Cheers for Passthrough Taxation, 131 Tax Notes 1353 (June 27, 2011), on SSRN. Here’s the abstract: This report addresses…

Read More