S-CORP Victory in Senate Tax Bill; S Corporation Reform Legislation Introduced in the House!

November has been an active and exciting month for the S Corporation Association and we have much to be thankful for:

  • TWO S corporation modernization provisions approved by the Senate as part of a larger tax package
  • Efforts to oppose increased payroll taxes on S corporations continue to be successful
  • Congressman Clay Shaw along with Congressman Jim Ramstad introduce S corporation reform legislation in the House
  • Joint Committee on Taxation estimates revenue loss on built-in gains tax relief legislation

Before adjourning for a three-week recess, the Senate approved its reconciliation tax package that includes two provisions from the Subchapter S modernization and reform bill that

(Read More)