mediation. n. the attempt to settle a legal dispute through active participation of a third party (mediator) who works to find points of agreement and make those in conflict agree on a fair result.
Subchapter S (S Corporation) What is a 'Subchapter S (S Corporation)'. A Subchapter S (S Corporation) is a form of corporation that meets specific Internal Revenue Code requirements, giving a corporation with 100 shareholders or less the benefit of incorporation while being taxed as a partnership.
An S corporation is a small corporation that has special tax status with the Internal Revenue Service (IRS). This special status affects how the S corporation pays taxes on net income. In fact, the IRS has waived the requirement that the S corporation pay taxes on its income at all.