S Corporation Modernization Act - The S Corporation Association

Moving on Extenders

Extenders are back in play in the House and Senate. Finance Chairman Ron Wyden (D-OR) plans to release his package Monday, with amendments due on Tuesday and markup to begin on Wednesday.

Details of the Wyden plan are not available, but early indications are that his package will include most of the tax provisions that expired at the end of 2013 and that they will be extended for both 2014 and 2015. It doesn’t appear that the Chairman plans to offset the revenue loss of the package unless there are more modifications to the language than a simple date change.

Meanwhile, on …

(Read More)

admin2019-02-01T20:05:24+00:00March 28, 2014|

S Corporation Modernization Bill Reintroduced in House

Good news! Last week, S-Corp champions and Ways & Means Committee members Dave Reichert (R-WA) and Ron Kind (D-WI) introduced the latest version of the S Corporation Modernization Act of 2013. Designated H.R. 892, the bill seeks to improve the rules governing S corporations by making permanent the five years BIG holding period, allowing non-resident aliens to invest in S corporations through an EST, and reducing the sting of the “sting tax”, among other provisions.

Specifically, H.R.B 892 would make needed changes to keep S corporations competitive and ensuring continued success of America’s predominant private business model by:

Increasing the …

(Read More)

admin2019-02-01T20:08:24+00:00March 4, 2013|

A Word From Our Chairman

Dear S-Corp Member:

Happy New Year! I am writing to thank you for your continued support of the S Corporation Association and the important work we do in defense of the S Corp community. As the incoming Chairman of the Association, I have lots of plans for 2012 that I want to share with you.

First, 2011 was a tough year for the stock and labor markets, but it was a productive year for the Association. …

(Read More)

admin2019-02-01T20:24:44+00:00January 20, 2012|

As Study Finds S Corps Employ One-Quarter of Private Sector Workers, New Legislation Improves S Corp Governance

Report Finds Flow-Through Businesses Essential to U.S. Economy

On the heels of a new report finding that flow-through businesses furnish more than half of the private sector jobs in the U.S., Ways & Means Committee members Dave Reichert (R-WA) and Ron Kind (D-WI) today will introduce the S Corporation Modernization Act of 2011 (H.R. 1478).

The study – released today and authored by Drs. Robert Carroll and Gerald Prante of Ernst & Young LLP – finds that fifty-four percent of all private sector employees (69 million) work for pass-through businesses, and one out of four private sector workers (31 million) …

(Read More)

admin2019-02-01T20:48:06+00:00April 12, 2011|