2022 C Corporations Update

C Corporations carry unique blessings and curses all their own. Tax law affecting C Corps continues to change. Join Bradley Burnett, J.D., LL.M., as he gets you up-to-date with what you need to know to plan now and face the coming year.

Publication Date: December 2022

Designed For
Return preparers, tax planners, and taxpayers desiring to keep up with law changes affecting C Corps.

Topics Covered

• 2022 Federal Tax Update for C Corps
• Tax Cuts Jobs Act (TCJA) Corporate Income Tax Rates
• Proposed Legislation H.R. 5376 Did Not Pass into Law
• 2021 IRS Data Book
• 2022 IRS Form 1120
• Inflation Adjusted Amounts for 2022, 2023 Notice 2022-55
• IRS Standard Mileage Rates
• Inflation Adjusted Amounts 2022 and 2023 Fringe Benefit and Qualified Plans
• Health Savings Account (HSA) Contribution Limits
• Delay in Deposit of Employment Taxes
• New Corporate Minimum Tax
• 1% Excise Tax on Repurchases of Corporate Stock
• C Corp Reasonable Comp of Employee Owner
• Management Fees Don't Fly Unless Structured Correctly
• C Corp Owner Compensation
• Action Item Adjustments to Income Tax Return
• TCJA (Tax Cuts Jobs Act) Expiration Dates
• Research and Development Expenses Capitalize / Amortize Beginning in 2022
• §163(j) Business Interest Expense Limit
• Net Operating Losses Reporting and Proof
• Effect of Runaway Inflation on Taxes

Learning Objectives

• Identify and apply new developments affecting C Corps

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of C Corporations.

Advance Preparation
None