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  2. S corporation - Wikipedia

    en.wikipedia.org/wiki/S_corporation

    An S corporation (or S Corp), for United States federal income tax, is a closely held corporation (or, in some cases, a limited liability company (LLC) or a partnership) that makes a valid election to be taxed under Subchapter S of Chapter 1 of the Internal Revenue Code. [1] In general, S corporations do not pay any income taxes.

  3. Permanent S Corporation Built-in Gains Recognition Period Act ...

    en.wikipedia.org/wiki/Permanent_S_Corporation...

    This summary is based largely on the summary provided by the Congressional Research Service, a public domain source. [1]The Permanent S Corporation Built-in Gains Recognition Period Act of 2014 would amend the Internal Revenue Code of 1986 to reduce from 10 to 5 years the period during which the built-in gains of an S corporation are subject to tax and to make such reduction permanent.

  4. Entity classification election - Wikipedia

    en.wikipedia.org/wiki/Entity_classification_election

    This entity classification election is made by filing Internal Revenue Service Form 8832. Absent filing the form, a default classification applies. U.S. corporations of the type that can be publicly traded must be treated as corporations. There is a list of specific foreign entities that must be treated as corporations. [2]

  5. The IRS just announced big tax changes for 2025 — here’s what ...

    www.aol.com/finance/irs-just-announced-big-tax...

    The IRS just dropped a raft of changes, big and small, to the U.S. tax code that could shift how much you owe — or save — in 2025. From bigger deductions to higher limits on health-related ...

  6. Trump's order on the global tax deal is a relief to tech ...

    www.aol.com/finance/trumps-order-global-tax-deal...

    So companies that take the R&D credit — like tech corporations — can reduce their effective tax rate below the 15% threshold, opening themselves up to the deal's undertaxed profits rule.

  7. Corporate tax in the United States - Wikipedia

    en.wikipedia.org/wiki/Corporate_tax_in_the...

    Generally, a tax year must be 12 months or 52/53 weeks long. The tax year need not conform to the financial reporting year, and need not coincide with the calendar year, provided books are kept for the selected tax year. [7] Corporations may change their tax year, which may require Internal Revenue Service consent. [8]

  8. The IRS just made a ruling on 401 (k) company matches that ...

    www.aol.com/finance/irs-just-made-ruling-401...

    Although the ruling isn’t widespread at this time (the unnamed company had submitted a request to the IRS for the change), it’s being viewed by many as a trial run for the IRS — one that ...

  9. Benefit corporation - Wikipedia

    en.wikipedia.org/wiki/Benefit_corporation

    S corporations are a legal entity that escapes this double taxation but there are certain stipulations that an entity will have to consider before being able to file as an S corporation. [40] If you are currently an S or C corporation your company will not change its tax status when you transfer to a public benefit corporation. [39] If you are ...