ACPEN Signature 2026: S Corporations Update

Overview

Subchapter S corporations continue to be popular because of employment tax advantages and accounting ease. But, taxpayers continue to make errors in making and maintaining their Subchapter S elections. Meanwhile, the cost of remedial rulings has been dramatically reduced for some while others can now face a $43,700 filing/user fee plus professional fees just to get relief. Practitioners need to be alert as to planning opportunities and pitfalls. This ACPEN course will include a panel of national tax practitioners and experts reviewing these complex rules as well as the latest judicial, legislative and regulatory developments.

*Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com

Course Instructor: James Smith, C. Clinton Davis

Highlights

Making the S election.
Per share per day accounting rules.
Revenue procedures for curing various errors that can adversely affect S status.
Regulatory safe harbors for routine commercial agreements.
Employment tax issues.

Prerequisites

None

Designed For

Industry and Public Accountants

Objectives

Analyze and interpret IRS Form 2553 to understand its purpose, requirements, and filing process.
Identify the eligibility criteria and requirements for electing S corporation status, including shareholder and stock limitations.
Identify common errors that can result in the inadvertent termination of S-Corporations, apply corrective measures to resolve these issues, and avoid pitfalls such as the Built-In Gains tax. They will also recognize and address employment tax issues.

Preparation

None

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by ACPEN. Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.