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 …

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