Welcome to our Site In 1996 Congress passed legislation granting banks and thrifts the opportunity to elect subchapter S taxation, which quickly resulted in subchapter S conversions by many financial institutions across the country. This trend continues today, as more than two thousand banks and bank holding companies have made subchapter S elections. Not surprisingly, a myriad of issues, questions and concerns have developed surrounding subchapter S taxation for financial institutions. The Subchapter S Bank Association was established to address these very issues. ... Learn More
Looking for an answer? Visit the Sub S Knowledge Center The Sub S Knowledge Center is now active and ready to receive your questions. If there is some general information you need regarding Subchapter S banking, submit a question and either association staff or one of our professional associate members will provide an answer.
Association members can also see answers to questions asked in the past.
6/17/2010 Window of Opportunity Closes on IRS in TEFRA Appeal The window of opportunity has closed for the Internal Revenue Service to appeal the Seventh Circuit Court of Appeals' decision in the TEFRA disallowance case Vainisi v ... Read More
3/18/2010 Seventh Circuit Rules in Favor of Sub S Banks in Vainisi Appeal
This afternoon, the Seventh Circuit Court of Appe ... Read More
3/10/2010 Health Reform Could Bring New Tax on Sub S Shareholders A payroll tax that funds a key component of Medicare funding could be expanded to begin taxing dividends paid to shareholders of S corporations under the Obama administration& ... Read More
