There are many events that can cause an inadvertent termination of an S-election. Additionally, in reviewing the original election, there may be a defect in the consents. This course discusses the new IRS procedure to self-correct. Prior to this, taxpayers had to resort to expensive Letter Rulings to obtain this relief. This area has gained even more importance as the number of LLCs electing S-corporation status has increased. This course covers the new self-correction process and what types of events qualify for the relief. Anyone that has S-corporation clients will benefit. Discussion Leader: Ian Redpath
