There isn’t a simple guide to follow because an LLC can take many different forms. Luckily, there are some aspects that every ...

Each year, S corporations must file Form 1120-S to report income, gains, losses, deductions, and credits to the IRS. They also have to provide each shareholder with a Schedule K-1, detailing each ...

The IRS has published a private letter ruling on I.R.C. §1362 concluding that: 1) the termination of an S corporation election was inadvertent, and treating the corporation as continuing to ...