HR9840 U.S. House: S Corporation Modernization Act of 2026

Introduced

H. R. 9840

Introduced in House · July 28, 2026

July 22, 2026

Mr. Carey introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to provide for S corporation reform, and for other purposes.

Withholding tax on nonresident alien S corporation shareholder’s pro rata share of effectively connected income

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title; reference.

(a) Short Title.—This Act may be cited as the. “S Corporation Modernization Act of 2026”.

(b) Amendment of 1986 Code.—Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986.

Introduced

H. R. 9840

Introduced in House · July 28, 2026

July 22, 2026

Mr. Carey introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to provide for S corporation reform, and for other purposes.

Withholding tax on nonresident alien S corporation shareholder’s pro rata share of effectively connected income

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title; reference.

(a) Short Title.—This Act may be cited as the. “S Corporation Modernization Act of 2026”.

(b) Amendment of 1986 Code.—Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986.

Introduced

H. R. 9840

Introduced in House · July 28, 2026

July 22, 2026

Mr. Carey introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to provide for S corporation reform, and for other purposes.

Withholding tax on nonresident alien S corporation shareholder’s pro rata share of effectively connected income

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title; reference.

(a) Short Title.—This Act may be cited as the. “S Corporation Modernization Act of 2026”.

(b) Amendment of 1986 Code.—Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986.

Introduced

H. R. 9840

Introduced in House · July 28, 2026

July 22, 2026

Mr. Carey introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To amend the Internal Revenue Code of 1986 to provide for S corporation reform, and for other purposes.

Withholding tax on nonresident alien S corporation shareholder’s pro rata share of effectively connected income

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title; reference.

(a) Short Title.—This Act may be cited as the. “S Corporation Modernization Act of 2026”.

(b) Amendment of 1986 Code.—Except as otherwise expressly provided, whenever in this Act an amendment or repeal is expressed in terms of an amendment to, or repeal of, a section or other provision, the reference shall be considered to be made to a section or other provision of the Internal Revenue Code of 1986.

H.R.9840

H. R. 9840

H.R.9840

H. R. 9840

H.R.9840

H. R. 9840

H.R.9840

H. R. 9840