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Category: Business Entities and Transactions

IRS Issues Rev. Proc. 2022-19 to Provide Relief for S Corporations and their Shareholders

October 11, 2022 Business Entities and Transactions

The IRS issued Rev. Proc. 2022-19, which provides simplified procedures for S corporations and their shareholders to resolve six frequently-encountered issues. For these issues, Rev. Proc. 2022-19 allows S corporations and their shareholders to obtain relief without requesting a private letter ruling (PLR). The IRS identified these issues as not…

About Dissolving a Corporation After Death

September 27, 2021 Business Entities and Transactions

The first thing to understand about corporations is that they are separate legal entities, apart from their shareholders, who are the owners. Because of this, corporations have “perpetual existence.” A corporation’s existence goes on after a shareholder, even a majority shareholder, dies or otherwise leaves the company.  If your corporation…

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