ICBA recruiting Subchapter S bankers for new working group

With major tax legislation high on the congressional agenda, ICBA is recruiting interested Subchapter S bankers for its new Subchapter S Tax Working Group.

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. With the help of technical expertise offered by ICBA Subchapter S Tax Working Group members, ICBA will be better positioned to respond rapidly to evolving legislative tax proposals.

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 feedback on draft legislation with short notice.

• A willingness to engage internal and external resources at the bank to provide feedback.

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. A CPA is not necessary but would be helpful.

How to Sign Up: ICBA encourages community bankers interested in participating in the working group to complete its online form.