Maggard Case Lessons on S Corp Distributions 0.2 Credit
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Disproportionate distributions in S corporations can lead to legal complications and tax penalties, but how do they actually impact S Corp status? In the Maggard case, a series of disproportionate distributions led to a legal battle about whether the S corporation status should be revoked. This case explores how mismanagement, unauthorized distributions, and flawed governance can jeopardize S corp elections and expose owners to tax risks.
Join this nano-learning course by tax expert Nicholas Preusch to understand the critical details of S Corp compliance. You’ll learn how disproportionate distributions can affect ownership and tax status, as well as strategies to prevent these issues in your business practices.
Major Topics:
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| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 0.2 CPE | Approved |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 0.2 CPE | Approved |
| License details | Credits | Status |
|---|---|---|
| Taxes for Certified Public Accountants (CPA-US) | 0.2 CPE | Approved |
Credits
Course Level
Instructional Method
Pre-requisites
Advance Preparation
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Nicholas has worked with the Internal Revenue Service as a Revenue Agent and an Attorney with the IRS Office of Professional Responsibility. Nicholas has authored publications for the AICPA’s Journal of Accountancy, AICPA’s Tax Advisor, NATP’s Tax Pro Journal, and CCH’s Journal of Tax Practice and Procedure. He also co-authored a textbook, Tax Preparer Penalties and Circular 230 Enforcement, published by Thomson Reuters. Nicholas has been recognized as the Top 5 Under 35 CPAs in Virginia, and is a member of the AICPA’s Tax Executive Committee. Nicholas is an adjunct professor at the University of Mary Washington. He is a graduate of Carthage College, University of Connecticut (M.S. in Accounting), Case Western Reserve University School of Law (J.D.), and Georgetown University (LLM in Taxation).
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