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Sirote's Ronald Levitt Warns of Looming Tax Issues for S Corporation Owners

March 13, 2013

The risks of potential tax law changes to owners of S Corporations were discussed by Sirote & Permutt attorney Ronald Levitt at a recent American Bar Association (ABA) conference.  As a panelist at the January ABA Midyear Meeting in Orlando, Levitt reviewed the potential reclassification of distributions as compensation subject to payroll tax liability and how small business owners could be considered to have received “unreasonably low compensation” in an S Corporation context. 

Levitt’s legal practice focuses on business and tax planning issues, particularly for closely held and family owned businesses. He counsels clients in business planning, succession planning, entity formation, representation of S Corporations, Limited Liability Companies and other flow-through entities, mergers and acquisitions, purchases and sales of businesses, and healthcare law. Additionally, Mr. Levitt handles federal and state controversy matters, estate planning and charitable deduction planning, including planning and defending conservation easements. Best Lawyers in America selected him as Birmingham’s “2012 Best Lawyer of the Year” for Tax Law. Mr. Levitt, a Martindale-Hubbell AV rated attorney for over 20 years and a fellow and on the Board of Regents of the American College of Tax Council, speaks throughout the country and is a frequent author, including co-author of the treatise Tax Planning for S Corporations (2d Ed.), published by Lexis/Nexis.

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