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Bookmark or Share- Salaries a BIG Offset - Journal of AccountancyC corporations that elect S status are often subject to the built-in gains (BIG) tax under IRC § 1374. One of the aspects of the BIG tax that can be a trap for the unwary is the treatment of accounts receivable for cash-basis corporations.
- Tax Changes are on Trump's 2025 To-Do List - KiplingerWith a president-elect bullish on lower taxes, and many federal tax provisions ending after 2025, the odds for a big tax package couldn’t be better. Donald Trump will move fast on tax changes.
- The IRS just announced big tax changes for 2025 - Yahoo FinanceThe IRS just dropped a raft of changes, big and small, to the U.S. tax code that could shift how much you owe — or save — in 2025.
- What is Built-In Gains Tax and How is it Calculated?Built-in gains (BIG) tax can apply when a C corp elects to become an S corp, and for a five-year period following the conversion, starting on the first day of the first tax year after making the S corp election.
- The built-in gains tax - The Tax AdviserThe built-in gains (BIG) tax generally applies to C corporations that make an S corporation election, and it can be assessed during the five-year period beginning with the first day of the first tax year for which the S election is effective. The BIG tax is imposed at the highest corporate rate as specified in Sec. 11(b) (Sec. 1374(b)(1 ...
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