Podcasts Other Ed Zollars' Tax Update Podcast Class Warfare in the Family (with an S Corporation)

Class Warfare in the Family (with an S Corporation)

Published: Dec. 31, 2007, 7 a.m.

b'In this podcast, we look at a case where a shareholder attempted to argue that, in fact, the S corporation\'s election had been terminated a decade before due to an agreement with the founding shareholder that, in the taxpayer\'s view, created a second class of stock.\\xa0 The case is Minton v. Commissioner, T.C. Memo 2007-372.\\xa0

The shareholder is not successful, though she does eventually succeed in unilaterally ending the S status of the corporation.\\xa0 We\'ll look at both why the Tax Court didn\'t go along with her claim that a 1986 agreeement created a second class of stock, and the issues raised by her ability to unilaterally kill off the S election and what that suggests for those of us working with S corporations and/or succession plans.

The materials are available at http://www.edzollars.com/2007-12-31_S_Corporation_Class.pdf .

The podcast is sponsored by Leimberg Information Services, located on the web at http://www.leimbergservices.com .
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