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Consolidated Returns: Determining Whether to File

Bruce A. McGovern

An affiliated group's decision to file a consolidated return can have significant tax effects for a long period. This course's discussion of relevant factors provides a valuable knowledge base for making this decision. Consolidated Returns: Determining Whether to File begins by providing an overview of the factors influencing an affiliated groups decision to file a consolidated return.

Other topics covered include:

  • Consolidated vs. separate returns
  • Complexity of the consolidated return rules
  • Restricted ability to discontinue filing consolidated returns
  • Treatment of losses
  • Effect of consolidation on deductions and credits subject to limitations
  • Treatment of Section 1231 gains and losses
  • Treatment of capital gains and losses
  • Foreign subsidiaries and foreign tax credits
  • Intercompany transactions
  • Adjustments to stock basis and earning and profits
  • Tax years and accounting methods
  • Ability to aggregate stock ownership
  • Personal holding company status
  • Minority shareholders of subsidiaries and creditors of subsidiaries in bankruptcy
  • State tax considerations

Course Details
Price:  $48.00
Field of Study:  Taxation
Prerequisites:  Basic understanding of corporate taxation
Level:  Overview
CTEC course number:  1075-CE-6813
Course was last updated on:  06/28/07
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Library:
Learning Center Core
Tax Return Preparation

Technical Requirements:
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Credit Available For: Units
CPE 4 CPE
QAS 4 CPE
Enrolled Agent (Accepted by the IRS) 4 CPE
CTEC Federal 4 CE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

User Reviews
Reviewer: Jen Y. submitted on 07/02/2009
examples
Reviewer: James J. submitted on 06/24/2009
It was easy to follow.
Reviewer: Daniel M. submitted on 01/08/2009
the observations and the examples bring the concepts into reality
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