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.
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.
2/3/2010 Vainisi Reply Brief Filed in TEFRA Appeal
On Tuesday, February 2, the Appellants in the T ... Read More
1/14/2010 IRS Files Brief in TEFRA Appeal Shortly after the dawn of the New Year, the Internal Revenue Service (IRS) filed its brief</A> in the TEFRA disallowance appeal, Jerome R. Vainisi, et al. v. Commissioner ... Read More
11/16/2009 FDIC Issues Final Rule on Prepaid Assessments On Thursday, November 12, 2009, the FDIC issued a final rule requiring financial institutions to prepay their estimated quarterly risk-based assessments for the fourth quarter ... Read More
