The IRS issued a private letter ruling on I.R.C. §§1361 and 1362, confirming that S corporation status remains intact when trust beneficiaries fail to make timely qualified subchapter S trust ...

Many business owners set up their businesses using corporations that can qualify for an election under Subchapter S of the Internal Revenue Code. By doing so, entrepreneurs can get the asset ...

When you're in business for yourself, minimizing your tax burden can mean the difference between profitability and operating in the red. If your business is organized as a professional corporation, ...

If a QSSS ceases to meet the above requirements, it will be treated as a new corporation acquiring all assets and liabilities from the parent S corporation in exchange for its stock. If the ...