Search

Home > Personal Income Tax Planning > Class Warfare in the Family (with an S Corporation) - Ed Zollars
Podcast: Personal Income Tax Planning
Episode:

Class Warfare in the Family (with an S Corporation) - Ed Zollars
Category: Business
Duration: 00:00:00
Publish Date: 2007-12-30 20:19:37
Description:

This PodCast is about the S Corporation election. Here, we look at a case where a shareholder attempted to argue that, in fact, the S corporation's election had been terminated a decade before due to an agreement with the founding shareholder that, in the taxpayer's view, created a second class of stock.  The case is Minton v. Commissioner, T.C. Memo 2007-372. 

The shareholder is not successful, though she does eventually succeed in unilaterally ending the S status of the corporation.  We'll look at both why the Tax Court didn't go along with her claim that a 1986 agreeement created a second class of stock, and the issues raised by her ability to unilaterally kill off the S election and what that suggests for those of us working with S corporations and/or succession plans.

The materials are available at http://www.edzollars.com/2007-12-31_S_Corporation_Class.pdf .

.



This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com

Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

Total Play: 0

Some more Podcasts by Steve Leimberg

60+ Episodes
Trusts 3    
90+ Episodes
Corporate Ta .. 5    
90+ Episodes
Corporate Ta ..