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S Corporations: Tax Compliance, Elections, and Best Practices


Total Credits: 8 including 8 Taxes - Technical

Average Rating:
Not yet rated
Categories:
ACPEN Industry Institute |  Tax |  IRS Approved
Faculty:
Mary Jane Hourani, MM, EA
Course Levels:
Basic
Duration:
8 Hours
License:
Product Setting: Expires 30 day(s) after program date.

Dates
Please Note: Programs with a ☾ insignia begin after 5pm or air on the weekend.


Description

This comprehensive course covers the most common aspects and tax implications of S Corporations, providing a deep dive into their structure, tax treatment, and compliance requirements. Participants will learn the mechanics of electing Subchapter S status, with discussions on Form 2553 and relief options for late filings. The course also explores the application of Rev. Proc. 2022-19 and Rev. Proc. 2023-3, analyzing their differences and implications under I.R.C. §1361 and §1362. Key topics include corporate formalities, shareholder stock and debt basis, and highlights of Form 1120S and its schedules (K-1, K-2, and K-3). Additionally, participants will gain insights into officer reasonable compensation requirements, audit strategies, and corrective measures for eligibility errors.

*Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com

Basic Course Information

Learning Objectives
  • Compare S Corporations to other entity structures to assess suitability
  • Prepare Form 2553 and explain relief options for late filings under Rev. Proc. 2022-19
  • Differentiate between Rev. Proc. 2022-19 and Rev. Proc. 2023-3
  • Analyze I.R.C. §1361 and §1362 in the context of S Corporation elections and compliance
  • Identify and address S Corporation eligibility errors and implement corrective measures
  • Understand and apply corporate governance procedures and corporate formalities
  • Review shareholder stock and debt basis rules and implications
  • Highlight critical aspects of Form 1120S, including built-in capital gains and accountable plans
  • Discuss the preparation and reporting requirements for Schedules K-1, K-2, and K-3
  • Explain officer reasonable compensation requirements, including advisory strategies and audit defenses

 


Major Subjects
  • Subchapter S status election and compliance requirements
  • Relief for late Form 2553 filings under Rev. Proc. 2022-19
  • Comparison of Rev. Proc. 2022-19 and Rev. Proc. 2023-3
  • I.R.C. §1361 and §1362 analysis for S Corporation elections
  • Corporate governance and formalities compliance
  • Shareholder stock and debt basis rules
  • Built-in capital gains and other aspects of Form 1120S
  • Schedules K-1, K-2, and K-3 preparation and reporting requirements
  • Officer reasonable compensation: requirements, advisory strategies, and audit defenses
  • S Corporation eligibility errors and corrective measures

Course Materials

Faculty

Mary Jane Hourani, MM, EA's Profile

Mary Jane Hourani, MM, EA Related Seminars and Products


Mary Jane has been practicing since 1993, working for a couple larger Tax, Accounting, & Audit Firms in  before transitioning to her own practice in 2005. 

Mary Jane has a Master of Management from Walsh College of Accountancy and Business Administration as well as a Bachelor of Science from Eastern Michigan University in Public Administration with a focus in Organizational Development and Governmental Accounting. 

She is credentialed as an Internal Revenue Service Enrolled Agent, allowing her to practice before the IRS. With this credential, she has direct oversite by the IRS Office of Professional Responsibility. She is also a National Association of Enrolled Agents NTPI Fellow. 

Mary Jane has been an Instructor of Tax for Michigan State University Tax School since 2008 as well as a speaker for several trade organizations since 2005. 

Mary Jane has been a Contributing Editor and Contributing Author of the National Tax Workbook for the Land Grand University Tax Education Foundation since 2009. She writes and compiles tax course packs used by Michigan State University Tax School and other trade organizations. She is a former H&R Block Instructor/Trainer.

Mary Jane is a member of the National Association of Enrolled Agents, Michigan Association of Certified Public Accountants, National Association of Tax Professionals, American Institute of Professional Bookkeepers, and is a QuickBooks ProAdvisor.
 


Dates

Mon, Jun 02, 2025 - 10:00am to 06:00pm EDT
Thu, Jun 19, 2025 - 01:00pm to 09:00pm EDT
Wed, Jul 02, 2025 - 10:00am to 06:00pm EDT
Thu, Jul 31, 2025 - 01:00pm to 09:00pm EDT
Sat, Aug 02, 2025 - 10:00am to 06:00pm EDT
Tue, Sep 02, 2025 - 10:00am to 06:00pm EDT
Thu, Sep 11, 2025 - 01:00pm to 09:00pm EDT
Thu, Oct 02, 2025 - 10:00am to 06:00pm EDT
Thu, Oct 23, 2025 - 01:00pm to 09:00pm EDT
Mon, Nov 03, 2025 - 10:00am to 06:00pm EST
Tue, Dec 02, 2025 - 10:00am to 06:00pm EST
Thu, Dec 04, 2025 - 01:00pm to 09:00pm EST
Fri, Jan 02, 2026 - 10:00am to 06:00pm EST
Thu, Jan 15, 2026 - 01:00pm to 09:00pm EST
Mon, Feb 02, 2026 - 10:00am to 06:00pm EST
Thu, Feb 26, 2026 - 01:00pm to 09:00pm EST
Mon, Mar 02, 2026 - 10:00am to 06:00pm EST
Thu, Apr 02, 2026 - 10:00am to 06:00pm EDT
Thu, Apr 09, 2026 - 01:00pm to 09:00pm EDT
Sat, May 02, 2026 - 10:00am to 06:00pm EDT
Thu, May 21, 2026 - 01:00pm to 09:00pm EDT

Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Designed For CPAs, EAs, and tax professionals working with or advising S Corporations
Original Recording Date 06/01/25
Course Developer Werner-Rocca Seminars
Date Added to Catalog 05/01/25
Yellow Book

No

 


Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199). 


Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org


Instructional Delivery Method

Group Internet Based


Course Registration Requirements

Online Registration


Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 


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