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S-CORP Testifies on Built In Gains

Long-time S Corporation Association advisor Jim Redpath testified Tuesday before the Ways and Means Committee in support, among other items, of making permanent the 5-year recognition period for built in gains.

The hearing focused on making permanent a handful of so-called “extenders” that were part of Chairman Camp’s Discussion Draft released earlier this year, including the shorter built-in gains recognition period plus increased deductions for S corporations making charitable contributions.

Jim’s testimony, along with that of the four other witnesses, is available here.  You can watch Jim’s testimony by clicking below:

 



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2019-02-01T20:05:24+00:00April 10, 2014|

Ways & Means Draft Strengthens S Corps

The Ways & Means Committee today released another in a series of “discussion drafts” outlining their plans for tax reform. This latest draft focuses on how to tax pass-through businesses — those businesses organized as S corporations, partnerships, and sole proprietorships — under a reformed code.In response to the draft, the S Corporation Association today released the following statement:

“The S Corporation Association strongly applauds Chairman Camp and the Committee for their efforts.

The Chairman is committed to a comprehensive reform of the tax code, and he’s made clear that the Committee intends to conduct this reform in a transparent and

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2019-02-01T20:08:24+00:00March 12, 2013|