S Corporation Shareholders
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Instructions for Forms C-3-S New York S Corporation ...
www.tax.ny.govAn S corporation is a small business corporation whose shareholders have consented to the corporation’s choice of S corporation status, as permitted under Subchapter S of Chapter One of the Internal Revenue Code (IRC). Generally, an S corporation does not pay federal income tax but, instead, the corporation’s income and deductions are passed
Wage Compensation for S Corporation Officers - IRS tax …
www.irs.govGenerally, an officer of a corporation is an employee of the corporation. The fact that an officer is also a shareholder does not change the requirement that payments to the corporate officer be treated as wages. Courts have consistently held that S corporation officer/shareholders who provide more than minor services to their corporation and
Future Developments 21 - IRS tax forms
www.irs.govshareholder's basis in the S corporation. Rev. Proc. 2021-48 permits S corporations to treat tax-exempt income resulting from the forgiveness of a PPP loan as received or accrued (1) as, and to the extent that, eligible expenses are paid or incurred; (2) when the S corporation applies for forgiveness of the PPP loan; or