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Dossier Legislative introduced 22-jul-2026
Bill introduced in Congress — not yet passed by either chamber, and not law.

S Corporation Modernization Act of 2026

Key claim: The S Corporation Modernization Act of 2026 (HR9840) would update federal tax rules for S corporations and has been referred to the House Committee on Ways and Means.

Abstract

(HR9840 · 119th Congress) Latest action (2026-07-22): Referred to the House Committee on Ways and Means.

Why this matters

S corporations are a widely used pass-through entity structure, and modernization of their tax rules affects millions of small and mid-sized business owners who pay tax at individual rates on business income. Because the bill is only at committee referral, the practical impact on who pays more or less remains unsettled and depends on which specific eligibility, distribution, and shareholder rules are ultimately amended.

Source

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Briefing card

S Corporation Modernization Act of 2026
Stage: introduced · congress · 22-jul-2026

The S Corporation Modernization Act of 2026 (HR9840) would update federal tax rules for S corporations and has been referred to the House Committee on Ways and Means.

Cross-references (0)

None recorded — doctrine links and citations appear here as scans and citation sweeps find them.

External: congress:119-hr-9840:introduced

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