2022-11-28 Difficulties Using LLC as Legal Entity for S Corporation

This week we look at:

• Damage award found to not be for physical injuries, entire amount taxable

• Partnership language in LLC operating agreement revision terminated S corporation status (creating a C corporation)

• Taxpayer failed to wait required 6 months for IRS to act on refund claim before filing suit

An audio only version of this week’s broadcast can be downloaded or streamed below.

2022-11-28 Difficulties Using LLC as Legal Entity for S Corporation

Edward K. Zollars, CPA (Kaplan Financial Education)

Articles for this week’s update can be downloaded below:

• 2022-11-28 Current Federal Tax Developments