Serving the needs of the Sub S Bank Community since 1998
We are the only association specifically created to help financial institutions maximize the benefits of their S Corporation election.
IRS Withdraws Proposed TEFRA Rule
Earlier this month, the IRS finally withdrew its proposed rule relating to the TEFRA disallowance. The rule, which dates back to August 2006, would have forced Subchapter S banks to apply the 20% TEFRA disallowance not just for the first three years after the bank’s S election, but every year thereafter in which it had interest expense attributable to certain tax-exempt municipal securities. Withdrawal of the proposed rule represents the final chapter in what became a hotly-contested dispute between the Sub S bank community and the IRS—one that ultimately went as far as the U.S. Seventh Circuit Court of Appeals in Chicago. Read more
Recent Articles view all
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Is S Corporation Status Still Right for You?
A variety of economic issues and the threat of increased personal tax rates have some financial institutions questioning whether S status is still right for them.
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Subchapter S Election for Financial Institutions
Almost one third of the financial institutions in the United States are now organized as S corporations. Is S corporation taxation right for you?
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Shareholder Management: Members of a Family
How do "members of a family" fit into the one hundred shareholder limit for S corporations?
Benefits of Membership
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Education
Although some time has passed since financial institutions were first allowed to be organized as S corporations, S taxation is still an entirely new world to many. Let us help your shareholders and senior management better understand the many benefits of S taxation and how you can use them to maximize your financial institution’s performance. -
Representation
In recent years, virtually every aspect of the community banking industry has been under scrutiny by legislators and regulators. Unfortunately, S corporation taxation is no exception. The Subchapter S Bank Association is the only organization specifically focused on protecting the benefits you enjoy as an S corporation. -
Information
How are the changing legislative and regulatory landscapes going to affect the way you do business as an S corporation? That is the primary question that the Subchapter S Bank Association strives to answer with its publications. Via the web, member emails and print publications, we are committed to giving you the resources you need to stay informed and in front of new challenges.
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