With major tax legislation high on the congressional agenda, ICBA is making a final call for interested Subchapter S bankers to join the new Subchapter S Tax Working Group. ICBA members who do not currently serve in ICBA leadership are encouraged to apply.
Criteria: ICBA is seeking bankers with:
Detailed knowledge of Subchapter S investor taxation.
A willingness to engage directly with their members of Congress.
The ability to review and provide timely feedback on draft legislation.
A willingness to engage internal and external resources at the bank to provide feedback.
Background: The 20% deduction for Subchapter S bank investors (Section 199A) expires at year-end, along with other provisions of the 2017 Tax Cuts and Jobs Act, including the individual rate structure. Feedback from ICBA Subchapter S Tax Working Group members will inform ICBA’s response to evolving legislative tax proposals.
Additional Details: The group will meet monthly via Zoom, and as warranted by legislative developments. Selection will be based on relevant expertise, geographical diversity, and other factors. Holding a CPA is not necessary but would be helpful.