Lee B Posted July 3, 2018 Report Share Posted July 3, 2018 According to an article in Tax Pro Today, the IRS plans on targeting S Corp Distributions , "As part of the S corporation distribution campaign, the IRS noted that S corps and their shareholders are supposed to properly report the tax consequences of distributions. The service has targeted three issues as part of this campaign: When an S corporation fails to report gain upon the distribution of appreciated property to a shareholder. When an S corporation fails to determine that a distribution, whether in cash or property, is properly taxable as a dividend; and, When a shareholder fails to report non-dividend distributions in excess of their stock basis that are subject to taxation. For this campaign, the IRS plans to conduct issue-based examinations, suggest changes to tax form, and conduct stakeholder outreach" Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted July 3, 2018 Report Share Posted July 3, 2018 1 hour ago, cbslee said: According to an article in Tax Pro Today, the IRS plans on targeting S Corp Distributions , "As part of the S corporation distribution campaign, the IRS noted that S corps and their shareholders are supposed to properly report the tax consequences of distributions. The service has targeted three issues as part of this campaign: When an S corporation fails to report gain upon the distribution of appreciated property to a shareholder. When an S corporation fails to determine that a distribution, whether in cash or property, is properly taxable as a dividend; and, When a shareholder fails to report non-dividend distributions in excess of their stock basis that are subject to taxation. For this campaign, the IRS plans to conduct issue-based examinations, suggest changes to tax form, and conduct stakeholder outreach" This has been said by the IRS for decades. Why don't they target the easiest cheats there are. S-Corp owners that do not take a salary at all. What a bunch of of male bovine scat. 2 Quote Link to comment Share on other sites More sharing options...
Catherine Posted July 3, 2018 Report Share Posted July 3, 2018 11 hours ago, Jack from Ohio said: What a bunch of of male bovine scat. business as usual... 3 Quote Link to comment Share on other sites More sharing options...
Roberts Posted July 3, 2018 Report Share Posted July 3, 2018 Of all the outrage over taxes by the public - I've never understood why the S-Corp is allowed the way most operate under it. 4 Quote Link to comment Share on other sites More sharing options...
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