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S Corporations - Overview

 Various
 
2.0
Registration is Open
Member Price
$79.00 Regular Registration
Your Price
$109.00 Regular Registration
This course is being offered on multiple dates, listed below. Click the Register button next to your preferred date to register.
 Tue, 06/24/2025 from 2:00 pm to 4:00 pm
 Wed, 07/16/2025 from 12:00 pm to 2:00 pm
 Tue, 08/05/2025 from 10:00 am to 12:00 pm
 Tue, 08/26/2025 from 2:00 pm to 4:00 pm
 Wed, 09/17/2025 from 12:00 pm to 2:00 pm
 Fri, 10/03/2025 from 10:00 am to 12:00 pm
 Fri, 10/24/2025 from 2:00 pm to 4:00 pm
 Wed, 11/19/2025 from 12:00 pm to 2:00 pm
 Wed, 12/03/2025 from 10:00 am to 12:00 pm
Designed For:

CPAs, EAs, and tax professionals working with or advising S Corporations

Prerequisite:

None

This course provides an overview of the key aspects and tax implications of S Corporations. Participants will learn the mechanics of electing Subchapter S status, compare S Corporations to other entity structures, and explore compliance requirements such as corporate formalities. Highlights include a detailed discussion of Form 1120S, accountable plans, taxable fringe benefits, officer reasonable compensation, and IRS audit strategies. The course also covers Schedules K-1, K-2, and K-3, as well as the concept of effectively connected income. Practitioners will gain practical insights into advisory services and strategies for representing clients before the IRS.

*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 [email protected]

Delivery Method: Individual webcast
CPE Credit: Taxes
Program Level: Intermediate

Sponsors

For Technical Support: 
Please contact the ACPEN Help Desk at (877) 602-9877, [email protected]   or visit https://vscpa.acpen.com/Support/. The Help Desk is available by phone 24/7, 365 days a year. Allow 1 business day for email

Objectives

  • Compare S Corporations with other entity structures to assess suitability.
  • Prepare Form 2553, Election by a Small Business Corporation, for clients.
  • Identify “reasonable cause” relief for late filing of Form 2553.
  • Analyze shareholder stock and debt basis requirements.
  • Highlight key components of Form 1120S and Schedule K-1.
  • Discuss the requirements for officer reasonable compensation and its implications.
  • Identify who is required to receive reasonable compensation.
  • Apply facts and circumstances to advise clients on reasonable compensation.
  • Develop strategies to defend reasonable compensation during IRS audits.
  • Review the preparation of Schedules K-2 and K-3 for entity compliance.
  • Understand the implications of effectively connected income for S Corporations.

 

Speakers

Advanced Preparation

None

Vendor

The Virginia Society of CPAs (VSCPA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: NASBARegistry.org.

For more information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call (800) 733-8272.