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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.
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News & Events | 5/28/2009
BREAKING NEWS - Fed Issues Final Rule on Treatment of TARP Money for Sub S Holding Companies
Last Friday, May 22, 2009, the Federal Reserve Board announced the adoption of an interim final rule that would allow Subchapter S bank holding companies to treat 100% of subo
... Read More | | 5/22/2009
BREAKING NEWS - FDIC Board Action on Special Assessment
Today at 1:30 p.m. Eastern time, the FDIC Board of Directors met to make a final decision on the special assessment that will be issued to replenish the Deposit Insurance Fund
... Read More | | 5/14/2009
TARP Update
On Wednesday, May 13, 2009, Treasury Secretary Timothy Geithner announced at the ICBA Annual Washington Policy Summit that the Treasury Department will reopen the TARP Capital
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