However, the business credit recapture tax paid by the S corporation does not reduce an accumulated adjustments account (AAA) because the recapture is a federal tax attributable to a C corporation year, and an AAA is not reduced by such items (Sec.
What does AAA stand for?
AAA stands for Accumulated Adjustments Account (US Federal Income Tax)
This definition appears frequently and is found in the following Acronym Finder categories:
- Military and Government
- Business, finance, etc.
See other definitions of AAA
We have 912 other meanings of AAA in our Acronym Attic
- Abdominal Aortic Aneurysm
- Abstract and Applied Analysis (mathematical journal; Hindawi Publishing Corporation)
- Academia de Automovilismo Andrade (Guatemala)
- Academics, Athletics, Arts (various schools)
- Academy of Aerospace and Aviation (India)
- Access Across America
- Access All Areas (Sony music project)
- Access Approval Authority
- Accountability and Assessment
- Accounting Alumni Association (various organizations)
- Aces of ANSI Art
- Achalasia-Addisonianism-Alacrima (Syndrome)
- Acquired Aplastic Anemia (disorder)
- Acquisition Approval Authority
- Acral Acanthotic Anomaly (dermatological condition)
- ACTH-Resistant Adrenal Insufficiency, Achalasia and Alacrima
- Action Aid Afghanistan (NGO)
- Action Aid Australia
- Action Awareness Alert
- Action on Alcohol Abuse
Samples in periodicals archive:
The regulations confirm that S shareholders with old previously taxed income balances may withdraw these amounts tax free to the extent there is an actual distribution of money in excess of the corporate accumulated adjustments account (the post-1982 version of previously taxed income).
2008-42, issued July 1, 2008, the Service ruled that insurance premiums paid by an S corporation on an employer-owned life insurance contract on an employee of which the corporation is the beneficiary do not reduce the corporation's accumulated adjustments account (AAA).
1368(c)(3) (covering nontaxable distributions made after the accumulated adjustments account (AAA) and AE&P have been distributed).
Excesso's accumulated adjustments account (AAA) is zero, because it distributed all current net income following its conversion to S status.
1368(e)(3)(A) provides that an S corporation may elect, with the consent of all affected shareholders, to make distributions from E&P first, rather than from an accumulated adjustments account.
WBC's accumulated adjustments account is $100,000 and its accumulated earnings and profits are $700,000.
Any excess, to the extent of remaining accumulated adjustments account (AAA), is treated as gain.