s corp

S-Corp Checklist phrase on the page.

Should You Still Be an S Corp?

Bailey Scarano Blog, Tax & Money Tips / By

The S corporation has long been a favorite structure for small and mid-sized business owners, and for good reason. It offers liability protection, avoids double taxation, and can reduce self-employment taxes by splitting income between salary and distributions. But with the passage of the One Big Beautiful Bill Act (OBBBA) and other tax shifts on the horizon, […]

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New Procedures to Resolve S Corporation and QSub Election

Bailey Scarano Blog, Tax & Money Tips / By

The IRS has released taxpayer assistance procedures to allow S corporations and their shareholders to resolve frequently encountered issues without requesting a private letter ruling (PLR). Correcting S Corporation & QSub Election Issues The new procedure addresses issues that generally do not affect the validity or continuation of an S corporation election, or of an

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