Infocasts to Focus on S Corp Tax Development


The AICPA will present a live, interactive S corporation tax update today covering recent changes CPAs will need to be able to communicate to 2008 S corporation clients and to prepare their returns. The program, scheduled for 1 p.m. to 3 p.m. ET, will focus on recent regulatory, administrative, judicial and legislative changes including:

  • The new S corporation penalty provision (Section 6699) for late-filed returns
  • Revenue Ruling 2008-42 dealing with AAA and life insurance premiums
  • Revenue Ruling 2008-16 and charitable contributions
  • Notice 2008-1 and medical insurance premiums for sole shareholder S corporations
  • Restructuring issues during economic hard times
  • Final regulations on divorce and suspended losses
  • Open Account Debt regulations
  • 2008 tax planning with Section 179, 0% capital gains and kiddie tax
  • Pre-2008 tax legislation taking effect in 2008—including the 2007 Small Business Act


Stewart Karlinsky, professor emeritus at San Jose State University and executive director of the San Jose State University Tax Policy Institute, is the speaker for the infocast. Participation in the session is free. Fees apply only for participants seeking CPE credit. Click here for information.

SPONSORED REPORT

How the election may affect taxation of business income

This report summarizes recent proposals to reform the U.S. business income tax system and considers the path to enactment of any such legislation.

VIDEO

How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

Did you follow 2016’s biggest accounting news?

CPAs will remember 2016 as a year of new standards and new faces. How well did you follow the biggest accounting events? The 7 questions in this quiz will help you find out