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S Corporations: Key Issues, Compliance and Tax Strategies

S Corporations: Key Issues, Compliance and Tax Strategies

Attend this webcast so you can understand and provide guidance on the most misunderstood areas of S Corporations taxation and how your business or clients can use them to their advantage.

Do you have an AICPA membership? Log in to apply your member discount.
Included in Webcast Pass



NASBA Field of Study




CPE Credits



Deborah A. Phillips


3 months

Product Number


 Business & partner 
Product Details

This Webcast is Part of the Tax Staff Essentials Program.

New or existing clients and business need assistance with the most misunderstood areas of S Corporations taxation and how they can use them to their advantage. Be prepared to explain the benefits and drawbacks of electing S Corporation status and why more business taxpayers favor the pass-through entity over the C Corporation.

This webcast will give you the knowledge you need to speak effectively to potential business clients and existing shareholders about how you can make the S Corporation business model work for them.

Key Topics

  • S Corporation qualifications
  • Election of S Corporation status
  • Termination or revocation of S Corporation status
  • Pass-through of income and loss items to the shareholder
  • Distributions to S Corporation shareholders
  • Reporting and filing requirements
  • Choice of year-end
  • Shareholder basis

Learning Outcomes

  • Recall the advantages of electing S Corporation status
  • Identify the requirements to qualify for an S Election
  • Recognize individuals and entities that are eligible to own S Corporation stock
  • Recall how to make a proper S Corporation election
  • Recall how income or loss passes through the S Corporation to the shareholders
  • Recognize the complex rules of distributions
  • Recognize active and passive income and determine material participation
  • Recall key points related to the Section 179 deduction

Who Will Benefit

  • Staff and senior associates in public accounting who assist clients with tax compliance for closely held S Corporations
More Details
NASBA Field of Study
This is a digital product. With full paid access the content will be available to you for 3 months after purchase date.
8 hrs
Do you have an AICPA membership? Log in to apply your member discount.

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2 to 5 registrants

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6+ registrants

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Contact us
Deborah A. Phillips
Deborah A. Phillips, CPA, MST, operates her own tax controversy practice where she specializes in partnership and S Corporation tax law as well as IRS audits and procedures. Debbie, retired from the Large Business and International Division (LB&I) of the Internal Revenue Service (IRS) where she was a Senior Manager in the Flow Through Issue Practice Group (IPG). The IPG specializes in S corporation and partnership tax issues for LB&I. Debbie worked for the IRS for over 31 years ago and she has extensive accounting and taxation knowledge of individual, corporate, and partnership federal tax returns. She was the Operations and Technical Assistant to the Deputy Commission International, the Technical Assistant to the Director of PFTG, a Territory Manager in the Retail, Food and Pharmaceuticals Industry, a Team Manager in the Heavy Manufacturing Industry and the IRC Section 263A Technical Advisor. Debbie taught graduate and undergraduate courses in accounting and taxation as an adjunct faculty member at Delaware State University, Wilmington College, and Goldey-Beacom College. She has been a seminar presenter for over 17 years as well as a text book author. Debbie earned her master's degree in taxation from Widener University.

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