S Corporations
Temecula Valley Chapter In-Person Meeting

Date and Time:

Wednesday, December 3, 2025
5:30 PM to 8:00 PM

Location:

Richie's Real American Diner
Conference Room
40651 Murrieta Hot Springs Road
Murrieta, CA 92562

Topic:

Forming a Corporation in California, discuss basics of an S Corporation, the Form 1120-S, U.S. Income Tax Return for an S Corporation, electing S Corporation filing status, filing IRS Form 2553, Election by a Small Business Corporation, and obtaining relief from invalid elections. Review S Corporation filing requirements to include filing deadlines, extension deadlines, and penalties for late filing. Discuss revoking S Corporation status per Treasury Regulation 1.1362-2.Discuss beginning shareholder basis, increases and decreases to basis. Review use of IRS Form 7203, S Corporation Shareholder Stock and Debt Basis Limitation. Discuss when a taxpayer is deemed to have received Constructive Dividends from a corporation. Review rules for Reasonable Compensation (wages) to a shareholder-employee and the various factors considered in U.S. Tax Court Cases used to measure reasonableness of compensation.

Presenter(s):

Jerrie Muir, EA
Jerrie Muir is an Enrolled Agent who previously worked for the Internal Revenue Service as a Tax Auditor, Internal Revenue Agent, and Stakeholder Relationship Tax Consultant. Jerrie has taught income tax, QuickBooks, and accounting classes at many Southern California community colleges. He has served in the U.S. Marine Corps and U.S. Army and is a U.S. Army War College graduate. Jerrie has over 25 years of teaching and tax preparation experience in the U.S., and overseas at military installations and U.S. Embassies. His focus is tax preparation for the self-employed taxpayer. Jerrie also has experience preparing individual tax returns that utilize the Foreign Earned Income Exclusion, Foreign Tax Credit, and military-related tax provisions.Jerrie can help you meet your federal and state tax obligations, file any required tax returns, and if needed, provide audit representation before the Internal Revenue Service and Franchise Tax Board

CPE Information:

2 Federal Law hour(s) (Topics covering existing tax law):

IRS: 18QC1-T-02250-25-I
CTEC: 1000-CE-05732

Knowledge Level: Intermediate (Basic knowledge helpful)

Registration:

Members: $38
Non-Members: $68

Order off menu and do not forget to tip your waitress! If you plan to attend this event, please contact Elyse Beltz: [email protected] or 951-223-7200.

Cancellation and Refund Policy for Meeting Purchase:
Written cancellations will be accepted up to three (3) business days before the course begins for a full refund. Please email your request to [email protected]. No refunds will be given if cancellation notice is received later than three (3) business days before the course begins, or for no-show registrants.

This presentation has been designed to meet the requirements of the Return Preparer Office, the California State Board of Accountancy; and the California Tax Education Council including code 31 of Federal Regulations10.6 (g). This does not constitute an endorsement by these groups. A listing of additional requirements to renew tax preparer registration may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA. 95812- 2890, or phone CTEC at (877) 850-2832, or on the Internet at www.ctec.org.