CPE & Events Catalog
Don Farmer's Top 10 S Corporation Return Issues & How to Avoid Them VIRTUAL
S corporation tax returns present recurring technical and compliance challenges that can expose shareholders and practitioners to costly errors. From basis limitations and shareholder distributions to reasonable compensation and built-in gains tax, small missteps can result in significant tax adjustments, penalties, and IRS scrutiny.
This focused 2-hour program examines the ten most common S corporation return issues encountered by practitioners and provides practical guidance on how to identify, prevent, and correct them. Participants will review shareholder basis calculations, loss limitations, compensation requirements, eligibility rules, and reporting pitfalls frequently identified during IRS examinations.
Through real-world examples and case-based discussion, attendees will gain actionable strategies to improve accuracy, strengthen documentation, and reduce audit risk in S corporation engagements.
Learning Objectives
Upon completion of this program, participants will be able to:
1. Identify common technical and reporting errors on S corporation tax returns.
2. Calculate shareholder stock and debt basis and determine the impact on loss deductions and distributions.
3. Recognize reasonable compensation requirements and related payroll compliance risks.
4. Determine eligibility and operational requirements necessary to maintain S corporation status.
5. Apply best practices to reduce audit exposure and improve return accuracy.
Highlights
S corporation tax returns present recurring technical and compliance challenges that can expose shareholders and practitioners to costly errors. From basis limitations and shareholder distributions to reasonable compensation and built-in gains tax, small missteps can result in significant tax adjustments, penalties, and IRS scrutiny.
This focused 2-hour program examines the ten most common S corporation return issues encountered by practitioners and provides practical guidance on how to identify, prevent, and correct them. Participants will review shareholder basis calculations, loss limitations, compensation requirements, eligibility rules, and reporting pitfalls frequently identified during IRS examinations.
Through real-world examples and case-based discussion, attendees will gain actionable strategies to improve accuracy, strengthen documentation, and reduce audit risk in S corporation engagements.
Field of Study: Taxation
Who Should Attend
CPAs and tax professionals in public practice and industry, tax professionals, and accounting practitioners who prepare or review S corporation returns or advise S corporation shareholders.
Required Knowledge
None
