AICPA logo
AICPA logo
  • Home
S Corporations: Key Issues, Compliance and Tax Strategies

S Corporations: Key Issues, Compliance and Tax Strategies

Attend this webcast so you can understand and provide guidance on the most misunderstood areas of S Corporations taxation and how your business or clients can use them to their advantage.

$279 - $339
Do you have an AICPA membership? Log in to apply your member discount.
46656305-6110-4E90-B13F-627B274DF603Created with sketchtool.Included in Webcast Pass




Dec 21, 2020

NASBA Field of Study




CPE Credits



Deborah A. Phillips


3 months

Learning Outcomes
  • Identify the advantages and potential disadvantages of operating as an S corporation
  • Recognize individuals and entities that are eligible to own S corporation stock
  • Determine how to make a proper S corporation election
  • Identify causes of voluntary and involuntary termination
  • Recall methods of allocating income for the short years caused by a termination
  • Calculate the tax on built-in gains
  • Identify the items of income, gain, loss, and deduction that adjust basis of shares and indebtedness and the order of application of the items
  • Determine how accumulated earnings and profits, accumulated adjustments account, other adjustments account, and the shareholders basis are affected by distributions'
  • Recognize when a Section 444 election and resulting required payments should be made
  • Determine whether and to what extent passive losses can be deducted against other income
  • Identify which fringe benefits are deductible by the shareholders
Key Topics
  • Advantages vs. disadvantages of S Corporations
  • S Corporation Qualifications
  • Electing S Corporation status Termination of S Corporation Status
  • S Corporation Tax on Built-in Gains
  • S Corporation Pass-Through to Shareholders, Basis and Losses
  • S Corporation Distributions
  • Taxable Year of S Corporations
  • S Corporation Passive Activity Rules, Fringe Benefits, and Other Considerations
Product Details

This webcast is part of the Tax Staff Essentials program.

New and existing clients and businesses need assistance with the most misunderstood areas of S Corporations taxation and how they can use them to their advantage. You need to be prepared to explain the benefits and drawbacks of electing S Corporation status and why more business taxpayers favor the pass-through entity over the C Corporation.

This webcast will give you the knowledge you need to speak effectively to potential business clients and existing shareholders about how you can make the S Corporation business model work for them.

Who Will Benefit
  • Staff and senior associates in public accounting who assist clients with tax compliance for closely held S Corporations
Do you have an AICPA membership? Log in to apply your member discount.
AICPA Members

Looking for group pricing?

We can help with group discounts. Call us at 1-800-634-6780 (option 1) or email us at

Contact us
Credit Info
CPE Credits
NASBA Field of Study
This is a live event. You will have access on the date/time of broadcast and the archive for 3 months after the broadcast date.
8 hrs
Deborah A. Phillips
Deborah A. Phillips, CPA, MST, operates her own tax controversy practice where she specializes in partnership and S Corporation tax law as well as IRS audits and procedures. Debbie, retired from the Large Business and International Division (LB&I) of the Internal Revenue Service (IRS) where she was a Senior Manager in the Flow Through Issue Practice Group (IPG). The IPG specializes in S corporation and partnership tax issues for LB&I. Debbie worked for the IRS for over 31 years ago and she has extensive accounting and taxation knowledge of individual, corporate, and partnership federal tax returns. She was the Operations and Technical Assistant to the Deputy Commission International, the Technical Assistant to the Director of PFTG, a Territory Manager in the Retail, Food and Pharmaceuticals Industry, a Team Manager in the Heavy Manufacturing Industry and the IRC Section 263A Technical Advisor. Debbie taught graduate and undergraduate courses in accounting and taxation as an adjunct faculty member at Delaware State University, Wilmington College, and Goldey-Beacom College. She has been a seminar presenter for over 17 years as well as a text book author. Debbie earned her master's degree in taxation from Widener University.

The Association is dedicated to removing barriers to the accountancy profession and ensuring that all accountancy professionals and other members of the public with an interest in the profession or joining the profession, including those with disabilities, have access to the profession and the Association's website, educational materials, products, and services.The Association is committed to making professional learning accessible to all product users. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association's Website Accessibility Policy. As part of this commitment, this product is closed-captioned. For additional accommodation requests please contact and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.

S Corporations: Key Issues, Compliance and Tax Strategies
Dec 21, 2020
Select from the following options:
Dec 21, 2020
2pm10pm GMT
Nonmember Price
Price excluding sales tax
Do you have an AICPA membership? 
Log in to apply your member discount.
Shipping cost and sales tax will be added later during checkout

Related content