Christine Walizer, Author at The S Corporation Association

IRS Audits and Pass-Throughs

Tax Notes ran an article this morning on the status of the 2-year-old IRS exam unit dedicated to passthrough entities. Spoiler alert – with all the chaos over funding, leaks, investigations, and government shutdowns, it hasn’t got its footing yet. Here’s Tax Notes:

Initially unveiled in September 2023 as part of a broader compliance initiative focusing on wealthy taxpayers, the LB&I exam unit is responsible for starting all exams of passthroughs — partnerships, S corporations, and trusts — regardless of the entity’s size. The unit is supposed to help streamline workflows and boost the agency’s audit coverage of partnerships — entities that …

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admin2025-10-20T18:40:58+00:00October 20, 2025|

The Big Winners in OB3

For the Main Street business community, the benefits of the One Big Beautiful Bill (OB3) are clear – the bill kept our tax rates low, made permanent the 20-percent small business deduction, and retained full deductions for the state and local taxes we pay on our pass-through business income.

Cumulatively, these provisions will save pass-through business owners more than $100 billion a year. That’s real money they can invest right now in new equipment, new workers, and higher wages.

The case for family tax relief in OB3 is just as strong. As we’ve noted, provisions benefitting middle-income families – including the …

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admin2025-10-16T18:46:57+00:00October 16, 2025|

Australian CbC Reporting and S-Corps, Continued

The S Corporation Association today sent a letter to the Australian Tax Office (ATO) building on our ongoing discussions regarding how Australia’s proposed Country-by-Country (CbC) reporting rules could affect S corporations operating in the United States.

By way of background, Australia is in the process of implementing new CbC reporting requirements they say will provide greater transparency for multinational companies doing business in the country. These rules would apply to sizable companies doing business in Australia, including large S corporations.

S corporations are pass-through entities, however, taxed at the shareholder rather than the entity level, and therefore do not pay …

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admin2025-10-10T15:44:53+00:00October 10, 2025|

Webinar Recap: Delivering for Main Street

The One Big Beautiful Bill is delivering real benefits for millions of small and family-owned businesses, but how many taxpayers know they benefitted, and how should Main Street advocates best communicate those benefits?

That was the central focus of our latest webinar featuring longtime allies David Winston and Myra Miller of The Winston Group, who walked through fresh national and Georgia-specific survey results focused on the new tax bill.

Key takeaways included:

Taxpayers strongly support the tax bill, but only when they understand how they benefit from its provisions. Main Street advocates need to discuss the specifics of the bill and avoid …

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admin2025-10-07T22:57:06+00:00October 7, 2025|

Talking Taxes in a Truck Episode 44: The Shutdown Edition

Joe Lieber is a founder and co-managing partner of Capitol Policy Partners, a veteran DC insider and a longtime friend of the TTT podcast. With a government shutdown all but inevitable at this point, we asked Joe how long we can expect this fight to play out, whether a grand bargain is in the offing, and the implications of a prolonged funding lapse. Later we get into the prospects of a year-end tax package and whether businesses should or should not expect a second reconciliation bill (Too Big, Too Beautiful?).

This episode of the Talking Taxes in a Truck Podcast was recorded …

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admin2025-09-30T21:02:31+00:00September 30, 2025|