Webcast: Ground Rules for Consolidated Tax Returns (XSRCTR117)
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Corporations are entitled to file their own separate income tax returns, but certain related corporations are entitled to file a consolidated income tax return. A corporate consolidated tax return is a method used to determine the tax liability of a group of affiliated corporations based on the theory that the businesses of the affiliated group represent a single economic enterprise and should be taxed as such. Complex Treasury regulations modify the aggregate results of the consolidated group b

7/5/2017
When: 07/05/2017
12:00 PM until 3:30 PM
Where: Webcast
Surgent
RCTR-2017-01-WEBNR-186-01
United States
Presenter: Karen Davis, EA, MBA, Ph.D.


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Acronym XSRCTR117
CPE 4 hours
Vendor Surgent
Category
Taxation
Level Advanced
Prerequisite A basic understanding of the income taxation of corporations
Adv Prep None
Yellow Book? No
Designed for Tax practitioners who prepare or review consolidated income tax returns
Registration
Member $139
CPA Non-Member $189

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

Corporations are entitled to file their own separate income tax returns, but certain related corporations are entitled to file a consolidated income tax return. A corporate consolidated tax return is a method used to determine the tax liability of a group of affiliated corporations based on the theory that the businesses of the affiliated group represent a single economic enterprise and should be taxed as such. Complex Treasury regulations modify the aggregate results of the consolidated group by providing special rules for certain items and adjusting for intercompany transactions. This program is a 4-hour examination of the rules relating to preparing corporate income tax returns on a consolidated basis.

Objectives

  • Identify the principal issues associated with preparing a corporate consolidated income tax return
  • Prepare a tax professional to prepare or review a consolidated tax return

Topics

  • Advantages and disadvantages of filing on a consolidated basis
  • Eligibility for filing the consolidated return
  • The election
  • Affiliated groups
  • Computation of the Consolidated Tax liability
  • Intercompany transactions
  • Consolidated items
  • Limitations and adjustments due to consolidation
  • Investment in subsidiaries
  • Operating rules