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Live Webcast Replay

S Corporation (Form 1120S) – Formation to Liquidation

Total Credits: 8 including 8 Taxes - Technical

Average Rating:
ACPEN Industry Institute |  Tax |  ACPEN Tax Institute |  IRS Approved
J. Patrick Garverick, CPA, MT, CFP®
Course Levels:
8 Hours
Product Setting: Expires 30 day(s) after program date.



With the increasing complexity and ever-changing nature of tax laws and issues, today’s accountant needs a S corporation course focusing on the birth, growth, maturity, and death of a closely held S corporation. This case driven course will deal with S corporation income tax laws from formation to liquidation. 

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to

Basic Course Information

Learning Objectives
  • Form a S corporation and calculate the entity’s initial inside basis in the assets and shareholder’s stock basis
  • Understand the operational issues during the growth and maturity of a S corporation and how the schedule K items get allocated to the shareholders on their individual Schedule K-1 effecting stock and debt basis
  • Prepare a Schedule M-2 and determine how distributions are treated to the shareholders
  • Comprehend the tax ramifications of liquidating a S corporation and the sale versus redemption of a shareholder’s stock

Major Subjects
  • Extensive review of the S corporation tax laws with an emphasis on any new legislative changes
  • Requirements to make an S election (i.e., types and numbers of shareholders and second class of stock issues)
  • Fixing late S corporation elections (i.e., Form 2553)
  • S corporation formation (§351) and liquidation issues
  • Revocation and termination of S corporations
  • Schedule K and K-1 – separately stated versus non-separately stated income and expense items
  • Detailed Schedule K-1 reporting including the 20% qualified business income (QBI) deduction and 3.8% net investment income tax
  • Compensation issues including the tax treatment of fringe benefits
  • Built in gains tax and other planning opportunities when converting a C to S corporation
  • Preparation of the Schedule M-2 and the ordering rules for distributions out of the AAA, PTI, E&P and OAA accounts
  • Tax treatment of stock redemptions (sale or distribution?)

Course Materials


J. Patrick Garverick, CPA, MT, CFP®'s Profile

J. Patrick Garverick, CPA, MT, CFP® Related Seminars and Products

Pat Garverick is a Certified Public Accountant who currently lives in the Phoenix, Arizona area. He began his career in public accounting in 1988 after obtaining his Bachelor of Science in Business Administration (BSBA) in Accounting from The Ohio State University. After receiving his Master of Taxation (MT) degree from Arizona State University in 1992, Mr. Garverick began operating his own tax and financial planning business. He also started writing, reviewing, and teaching tax and financial planning continuing professional education courses around the country.

In addition to being a CPA, Pat is also a Certified Financial Planner (CFP®). This role serves to enhance the knowledge he brings as he writes and presents continuing education material. Mr. Garverick is a member of the Arizona Society of Certified Public Accountants, and the American Institute of Certified Public Accountants. Pat has presented continuing education sessions throughout the country and has won awards for both his skills as an instructor as well as for the content he has created. His knowledge, expertise, and high energy have made him one of the profession’s most highly rated speakers. He is in a very small group of instructors that are both extremely knowledgeable and interesting.

During his time in college Pat earned a letter as a member of the Ohio State Basketball squad. He remains a stanch supporter of the sports programs at his alma mater.



Thu, Jun 20, 2024 - 06:00am to 01:37pm AKDT
Tue, Jul 16, 2024 - 06:00am to 01:37pm AKDT
Tue, Aug 13, 2024 - 06:00am to 01:37pm AKDT
Wed, Sep 04, 2024 - 06:00am to 01:37pm AKDT
Mon, Oct 21, 2024 - 06:00am to 01:37pm AKDT
Tue, Nov 19, 2024 - 06:00am to 01:37pm AKST
Tue, Dec 17, 2024 - 06:00am to 01:37pm AKST
Mon, Jan 20, 2025 - 06:00am to 01:37pm AKST
Tue, Feb 18, 2025 - 06:00am to 01:37pm AKST

Additional Info

Basic Course Information

Prerequisites Background in S corporation and individual income tax law
Advanced Preparation Background in individual and business income tax law
Designed For Tax professionals (in public or private industry) seeking a case driven income tax return course addressing many common, yet complex Federal S corporation issues and problems
Original Recording Date 08/2023
Course Developer The Tax U
Date Added to Catalog 08/26/2023
Yellow Book No

Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints., (972-377-8199). 

Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

Instructional Delivery Method

Group Internet Based

Course Registration Requirements

Online Registration

Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 



Overall:      4.6

Total Reviews: 5


Seth C

"Good course overall, appreciate the humor in these longer classes."