Friday, October 20 

8:30AM – 12:30PM

S Corporations

Chair:  Carol Kulish Harvey, Deloitte Tax LLP, Washington, DC

8:30am             Opening Remarks and Report on Committee Business by the Chair. 

8:45am             Important Developments.    Discussion of recent legislative, administrative, and judicial developments relating to S Corporations and their shareholders.  Moderators:  Laura Howell-Smith, Deloitte Tax LLP, Washington, DC; Michael Gould, Grant Thornton LLP, Washington, DC.

9:15am             Planning to Preserve Long-Term Capital Gain Treatment in Sales of Real Property to Related Entities (Including S Corporations).  A review of dealer vs. investor issues; an examination of whether the purported sale should be respected as a sale or, in the alternative, treated either as a contribution to capital or as a transfer in connection with the formation of a de facto joint venture; plus a look at installment sales and recapture issues.  Moderator:  Charles Egerton, Dean Mead Egerton Bloodworth Capovano & Bozarth PA, Orlando, FL.  Panelist:  Stanley Blend, Oppenheimer Blend Harrison & Tate Inc., San Antonio, TX.

10:15am           Oops, There Goes My S Election.  A discussion of issues practitioners face relating to inadvertent terminations of S corporation status and invalid S corporation elections.  Insight from former Government attorneys regarding the ruling request process.  Moderator:  Ronald Levitt, Sirote & Permutt PC, Birmingham, AL.  Panelists:  John Truskowski, Lord Bissell & Brook, Chicago, IL; Paul Kugler, KPMG LLP, Washington, DC; Jeanne Sullivan, KPMG LLP, Washington, DC.

11:15am           Administering an Estate with S Corporation Stock.  A discussion of practical issues practitioners address in administering an estate with S Corporation stock.  Consideration of different decision making trees an estate or a trust faces following the death of a shareholder of an S Corporation.  Moderator:  Laura Howell-Smith, Deloitte Tax LLP, Washington, DC.  Panelist:  Richard Greenberg, Greenberg & Schulman Attorneys at Law, Woodbridge, NJ; Craig Stephens, Sirote & Permutt PC, Birmingham, AL.