kind - The S Corporation Association

S-Corp Mod Bills Introduced!

Good news on a hot day in July! The 2016 version of the “S Corporation Modernization Act” has been introduced the House and the Senate. Led by Senators Thune (R-SD) and Cardin (D-MD) and Representatives Reichert (R-WA) and Kind (D-WI), the bill includes a half-dozen provisions designed to improve the rules that govern S corporations.

You can see the entire bill here
You can see the section-by-section analysis here
You can see the S-Corp press release here

Yesterday’s introduction of companion bills is the first time in a while that the S corporation community has had this important …

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admin2019-02-01T19:56:24+00:00July 14, 2016|

S Corp Provisions on House Floor

Last Friday, longtime S-CORP allies Rep. Dave Reichert (R-WA) and Rep. Ron Kind (D-WI) introduced two pieces of legislation – H.R. 629 and H.R. 630 – to extend tax provisions critical to America’s 4.6 million S corporations.

The bills would make permanent the five-year built-in gains holding period as well as a basis adjustment fix for S corporations making charitable contributions. They build off the momentum from last Congress when identical bills successfully passed the House with broad bipartisan support. These provisions are ones that we’ve championed for years, and go a long way towards making the tax …

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admin2019-02-01T20:00:11+00:00February 3, 2015|

Thune Files S-CORP Amendment

More good news on the tax front. Senator John Thune (R-SD) has filed an amendment making permanent two key S corporation reforms. Joined by Senators Ben Cardin (D-MD) and Pat Roberts (R-KS), the Thune amendment would make permanent the shorter, five-year recognition period for built-in gains as well as an improved basis adjustment for charitable contributions by S corporations.

The text of the amendment is identical to the text of H.R. 4453 and H.R. 4454, legislation sponsored by Representatives Dave Reichert (R-WA) and Ron Kind (D-WI) that passed the Ways & Means Committee earlier this month and are due to be …

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admin2019-02-01T20:05:23+00:00May 15, 2014|

Ways & Means Votes for Permanent BIG Relief!

Earlier today, the House Ways and Means Committee voted out a number of business-friendly tax provisions, including two S corporation reforms introduced by Reps. Dave Reichert (R-WA) and Ron Kind (D-WI). You can click here to watch the video of the markup in its entirety.

The first bill (H.R. 4453) makes permanent a five-year built-in gains recognition period while the latter (H.R. 4454) does the same with a basis adjustment for charitable giving by S corporations. Both provisions were included in Chairman Camp’s tax reform draft and were voted out of Committee with comfortable majorities.

In a related effort, two dozen …

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admin2019-02-01T20:05:23+00:00April 29, 2014|

Reps. Reichert & Kind Introduce Pro-S Corporation Bills

Yesterday, Congressmen Dave Reichert (R-WA) and Ron Kind (D-WI) introduced HR 4454 and HR 4453 to make permanent two tax provisions that are important to the S corporation community.

The first bill provides a permanent BIG tax fix by locking in the recognition period for the built-in gains tax at five years. The provision was included in Chairman Camp’s tax reform draft and was discussed earlier this week in a Ways & Means Committee hearing that included S-Corp ally Jim Redpath as one of the witnesses. The latter bill, H.R. 4453, makes permanent the basis adjustment for charitable giving by …

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admin2019-02-01T20:05:24+00:00April 11, 2014|