INFORMATION & LINKS FOR S CORPORATIONS FROM THE IRS WEB SITE
The following are links to various content within the Internal Revenue Service Website, www.irs.gov which may be of value to a practitioner seeking more information on tax matters relating to "S" Corporations. While this list is by no means complete, it should provide a beginning point for research.
Choosing a Business Entity - a good resource for determining the differences between various business entity types http://www.irs.gov/newsroomlarticle/0„id=l 83918,00.html
Tax Information For Corporations - a general information link which provides a good overview of S Corporations and related matters http:i/www.irs.gov/businesses/corporations/index.htmI Corporate Executive Compliance - A discussion regarding compensation issues and the related payroll tax factors as well as a broad discussion of compensation. http://www.irs.gov/businesses/corporations/article/O,,id=l 35045,00.html Health Savings Accounts - a discussion primarily aimed at partners but also applies to S Corporation shareholder employees Partnership Contributions to a Partner's Health Savings Account (HSA); S Corporation's Contributions to a 2-Percent Shareholder-Employee's HSA http://www. i rs. g ovli rb/2005-04 I RB/a r13. htm I Instructions for form 2553, Election to be Treated as a S Corporation - the actual instructions for electing to be treated as an S Corporation. http:/Iwww.irs.gov/pub/irs-pdfli2553.pdf General Information on S Corporations - an overview of S Corporation tax issues. http:/Iwww.irs.gov/businesses/small/article/O,,id=98263,00.html Recent Changes affecting S Corporations - a compilation of recent developments in the area of S Corporations. http:/Iwww.irs.gov/formspubs/article/O,,id=l 81061,00.html IRS Offers Relief for Late S Corporation Elections - information on how to correct not making the proper S elections timely. http:/fwww.irs.gov/newsroom/article/O,.id=l 74675,00.html Instructions for Form 1120 S - the instructions for the actual preparation of an S Corporation tax return. Many insights may be gained from a review of these instructions. http://www.irs.gov/pub/irs-pdf/il120s.pdf
Special Rules for Health Insurance Costs of 2-Percent Shareholder-Employees- a worthwhile read on the rules surrounding health insurance being provided by an S Corporation for shareholder employees.
This information has been provided by the National Society of Accountants (NSA). Phone: 800-966-6679; Web: wvwv.nsacct.org