Articles

The Sub S Bank Report, Volume 20, Issue 2

The Sub S Bank Report Volume 20, Issue 2 is now available to read. Learn more about: Tax Cuts and Jobs Act; Sub S Calculations; Letters to Chairman Brady; CECL- Effect of Sub S Banks; ESOPS S Corp Legislation Proposal and Current Events; S Corporation Modernization Act of 2017    To read the Newsletter, login with your membership information.  If you need assistance resetting your log in information or did not receive the email copy to your inbox email Amy Willcox at awillcox@kslawllp.com.  Read more

Tax Reform Train Ready to Leave Station

Tax Reform Train Ready to Leave Station Leadership of the House, Senate and the White House issued the attached statement late last week which confirms an agreement among them on a way to move forward with meaningful tax reform. While the statement is short, it is very powerful and provides us assurance that the key rate reduction provisions of the House Plan or the President's position are being preserved. We have been in discussions with all of these parties, including White House tax and banking staff and believe that the agreement will provide a basis for accomplishing meaningful tax reform this fall. We just returned from 2 days of meetings in Washington on this subject and had been clued in that such an agreement was forthcoming, but perhaps not until after recess. It's announcement now is a harbinger for good things to come. We must redouble our efforts to continue to make certain Sub S Bank's and their shareholders are protected as the legislative process on Tax Reform moves forward and that our Small Business Capital Access Bill, HR 2339 and its soon to be Senate companion are included in the Tax Reform draft that is introduced. We encourage you to support this effort by asking your member of Congress to co-sponsor and to consider making a contribution so we can afford to continue our efforts in Washington and elsewhere this summer and fall. For further information contact Amy Willcox, Patrick J Kennedy, Jr. or Dub Sutherland. Amy Willcox 210.802.4285 awillcox@kslawllp.com Patrick J. Kennedy, Jr. 210.228.4431 pkennedy@kslawllp.com Dub Sutherland 210.228.4444 dsutherland@kslawllp.com  Read more