Well, well, the IRS sees the light...

[outwest]

in notice 2008-1 the IRS has retracted that troublesome headliner that required S corps to have the health insurance in the corporate name for the SE health insurance deduction.

Now you can:
Have the corporation own the policy
Have the shareholder own the policy and the corp pay it.
Have the shareholder own the policy and pay it and the corp reimburse the the s/h.

In all cases you must still add the premiums to Box 1 wages and then take the SE health insurance deduction on the 1040.

I guess what is wanted to do becomes "more likely than not".

Gotta check my calendar: 2008 ? ?

[DaveO]

Great News

Glad I never stopped doing it that way.

[veritas]

Me either

Plus I would take the same rules and apply them for partnerships.

[Golden Rocket]

Well, Well, not so fast...

...you're giving them too much credit.

Yes, they made the changes because of their empathy with taxpayers who have struggled with the letter of the law. It makes me almost cry to think of their compassion.

Fact of the matter...it was well said that "The most effective way to rid yourself of stupid legislation is to try and enforce it..." This is probably closer to the truth.

Golden Rocket -

Nothing can be made foolproof given a sufficiently talented fool - Outwest