• "S Corporations" Under Scrutiny
  • September 29, 2005 | Author: Jasper L. Cummings
  • Law Firm: Alston & Bird LLP - Raleigh Office
  • The once-humble "S corporation" is facing increased scrutiny from the news media, Congress, the IRS, and the U.S. Treasury. Part of the reason is the increase in the number of S corporations with substantial assets, most of which presumably derive from either internal growth or conversion of large closely held C corporations. Anyone thinking of forming a new business as an S corporation, instead of a partnership or limited liability company ("LLC"), may want to think again.