S corporations

Big Tax Hike for S corporations

Submitted by Linda Coleman on Wed, 2010-05-26 16:14.

S corporations

One of the main advantage for forming an S corporation is about to go away.

Right now, S corporation shareholders only pay employment taxes on the wages paid. But thanks to Section 413 of HR 4213-American Jobs and Closing Tax Loopholes Act of 2010, that's about to be a thing of the past.

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IRS Circular 230 Disclaimer: Pursuant to Internal Revenue Service guidance, be advised that any federal tax advice in this communication, including any attachments or enclosures, was not intended or written to be used, and it cannot be used, by any person or entity for the purpose of avoiding penalties imposed under the Internal Revenue Code.

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S corporations

Big Tax Hike for S corporations

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