At $3,000 and never adjusted for inflation during nearly a century, the Sec. 861(a)(3) de minimis exception seldom applies.

Sec. 541 imposes a 20% tax on the undistributed personal holding company income of a personal holding company. Initially ...

An LLC can opt to be treated like a corporation for tax purposes. In this case, the LLC files corporate taxes and any business deductions for workers' compensation are claimed on those forms.