Tax Reform, S-Corporation, Small Business

Section 1202 “Qualified Small Business Stock” Tax Benefits May Be Significantly Expanded as Part of Tax Package

WilmerHale on 6/23/2025

On June 16, 2025, the Senate Finance Committee released its draft legislative text (the Senate Proposal) following the prior passage of the One Big Beautiful Bill Act by the House of Representatives (the House Bill). ...more

Accidental Termination on Purpose? S Corp Ruling Could Be Huge For QSBS Owners

DarrowEverett LLP on 4/3/2024

Qualified Small Business Stock (“QSBS”) is arguably one of the largest “gifts” Congress has given taxpayers by excluding from a shareholder’s gross income the greater of $10 million or 10 times the shareholder’s basis in the...more

Weekly IRS Roundup May 6 – 10, 2019

McDermott Will & Schulte on 5/13/2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of May 6 – 10, 2019. May 7, 2019: The IRS released Revenue Procedure 2019-22 updating Revenue...more

The New Section 199A 20% Profit Deduction for Pass-Through Businesses: A Case Study: Court Reporters

Burr & Forman on 10/23/2018

Congress enacted the new Section 199A 20% profit deduction for the owners of pass-through businesses, and which include Subchapter S corporations, LLCs, sole proprietorships, and even certain trusts. Section 199A is intended...more

Lawyers on Tap: Tap Tips for Entity Formation and Taxation

Verrill on 5/8/2018

In this episode of Verrill Voices: Lawyers on Tap, Verrill Dana attorneys Jennifer Green and Jonathan Dunitz discuss the importance of entity formation to the overall success of a brewery business, and the differences between...more

House Discusses How to Tax Small Businesses

Burr & Forman on 3/9/2017

A proposal presently being discussed before the House Ways and Means Committee (where tax laws begin) addresses how small business income will be taxed. President Trump and the Republican-controlled Congress both desire...more