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Part 3: Qualified Subchapter S Trust Election This section is only for trusts applying for S corporation status. In case, you are a trust applying for S Corp status, then you will have to mention the beneficiary’s name, address, social security number, and the trust’s name, address, an...
This new compliance campaign builds upon the IRS’s ongoing efforts to increase scrutiny of pass-through entities. In 2021, as part of its continued efforts to ramp up enforcement and deploy its limited resources, the IRS launched a Large Partnership Compliance program focused...
The IRS found that the application of partnership to sell the credits in the CCA transaction was a form of abuse of subchapter K. The author says that the CCA offers a warning that the IRS will employ the anti-abuse regulation to combat listed transactions and deals that disguise to be in...
How The 1 Percent Pays Taxes; How The 99 Percent Could: The Subchapter T Worker Cooperative Tax Loophole The ratification of the Sixteenth Amendment to the United States Constitution granted Congress the right to tax income "from whatever source derived." Sinc... Haber,Michael - 《Journal of ...
IRS Form 2553 can be a game-changer for the right company. The potential tax savings will undoubtedly pique the interest of many C corps and LLCs. But don’t jump into making an S corp election without careful thought and consideration. ...