Agenda

What changes did the 110th Congress enact with respect to S corporations? What could take place next year and how might the new President’s tax agenda affect these entities and their shareholders?

Join Bart Massey, CPA, Deloitte Tax LLP as he discussed changes enacted as part of the Small Business and Work Opportunity Act of 2007, recent legislation, including the proposed S Corp Modernization Act, and the upcoming President elect’s tax agenda and priorities.

The webinar, recorded on November 20, 2008, covered:
• Recent changes affecting treatment of passive investment income, partial sales of qualified subchapter S subsidiaries (QSubs), interest deductions by electing small business trusts (ESBT), accumulated E&P, and banks operating as S corps.
• Proposals of the recent S Corp Modernization Act (including reduced recognition period for built-in gains, repeal of excess passive investment income as a termination event) and the prospects for enactment
• The new president’s tax agenda: how will it affect S corporations and S corp shareholders?

Upon completion of this program, participants will be able to:
• Understand law changes that modernize S corporation rules and eliminate some restrictions on S corporations;
• Be familiar with potential future S corporation law changes considered by Congress and the prospects of whether additional modernizations may be enacted; and
• Understand the general tax policy positions of the president-elect and evaluate whether they have implications to the interests of S corporations and S corporation shareholders.