Are you looking for a summary of the S Corporation Built-In Gains Tax? Take a look at the AICPA’s Tax Advisor’s article “The S Corporation Built-In Gains Tax: Commonly Encountered Issues.”
These built in gains typically occur when a C corporation converts to an S corporation. This article discusses the common issues facing corporations in this situation, and the need for a proper appraisal. A good resource for you and your clients.
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