This course covers the essentials on the taxation of S corporations and their shareholders that goes through the entire lifecycle of an S corporation: timely and late S corporation elections, capitalization, operations, and the sale or closure of the corporation. There is an emphasis on proper preparation of the S corporation return, calculation of and reporting the basis of the S corporation stock, and solving common S corporation problems encountered by practitioners. A case study and a sample Form 1120-S is included and discussed in detail. 

This course is divided into four sessions, and each session covers two modules.

Module 1: Qualifications and Elections

Module 2: Formation and Capitalization

Module 3: Operations

Module 4: Basis and Form 7203

Module 5: Return Preparation

Module 6: Closing the S Corporation

Module 7: S Corporation Tax Cases

Module 8: S Corporation Problems and Solutions

Case Study Discussion and Tax Return Preparation Review

Learning Objectives

  • List the hierarchy of authorities used in research to take tax positions.
  • Compare and contrast reasonable basis and substantial authority standards.
  • Describe the essential elements of the tax research process.
  • Describe ways to effectively document tax positions developed in research to taxpayers and to taxing authorities.

Education Information
IRS Program Number: NMVBP-T-00322-25-S
Credit hours: 7 NASBA CPE / 7 IRS CE
Prerequisite: None
Advanced Preparation: None
Program Level: Basic
Delivery Method: QAS Self-Study (NASBA); On-Demand (IRS)
Field of Study: Taxes (NASBA); Federal Tax Topics/Federal Tax Related Matters (IRS)

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Course expires one year after purchase.

Instructor: Thomas Gorczynski, EA, CTP, USTCP Click here to learn more about the instructor.

Refund Policy
There are no refunds for on-demand webinars, but if you experience technical difficulties while viewing a webinar, contact us to resolve the issue. Click here for more information regarding our refund, education and complaint policies.  


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