Tucked away in the recently enacted Tax Cuts and Jobs Act is a provision dealing specifically with S corporations. It is one of these particular provisions that caused the Internal Revenue Service to recently issue a notice of proposed rule-making in order to stem the tide of S corporation income that could potentially go untaxed.

Originally published in Tax Management Memorandum, Vol. 60 No. 15, The Bureau of National Affairs, Inc - July 22, 2019.