Form 2553 (Election by a Small Business Corporation) Archives

Form 2553 (Election by a Small Business Corporation)

Chan v. Commissioner
T.C. Memo. 2021-136

On December 1, 2021, the Tax Court issued a Memorandum Opinion in the case of Chan v. Commissioner (T.C. Memo. 2021-136). The primary issue presented in Chan was whether the entity in question (which filed a Form 2553, Election by a Small Business Corporation, by which it elected to be treated as an S corporation) was an S corporation or a C corporation. Background to Chan v. Commissioner The petitioners operated a restaurant in California

Scott St. Amand April 22, 2022

Blame Kentucky

Deckard v. Commissioner
155 T.C. No. 8

On September 17, 2020, the Tax Court issued its opinion in Deckard v. Commissioner (155 T.C. No. 8). The primary issue presented in Deckard v. Commissioner was whether as the officer and director of a Kentucky non-stock, non-profit corporation (as constrained by Kentucky law and the company’s articles of incorporation), the taxpayer had an ownership interest in the company equivalent to that of a shareholder for purposes of applying the passthrough loss provisions of subchapter

Scott St. Amand September 17, 2020