- NY Credits : 3.0
- TX Credits : 3.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 3.0
Advanced Topics for Consolidated Tax Returns
This course incorporates the introduction of advanced consolidated tax return topics into the computation of consolidated taxable income, consolidating eliminations, group tax liability and the estimated tax. Then, the presentation expands into limitations on losses, the separate return limitation year (SRLY) rules, carryback of losses and other loss limitations. The wraps up by discussing consolidated basis rules to include the bases of stock of subsidiaries, special basis adjustment rules and earnings and profits dividends. This course focuses on the development of in-depth knowledge, skill and application of consolidated tax returns. This course has been updated with the most recent laws and regulations that relate to consolidated tax returns including the Tax Cuts and Jobs Act of 2017. This course is most appropriate for the professional with mastery of consolidated tax returns who may be a seasoned professional within an organization but also may be appropriate for other professionals with specialized knowledge in consolidated tax returns.
Upon successful completion of this course, the user should be able to:
compute consolidated taxable income taking into account consolidated eliminations, the tax liability of the group and estimated tax,
identify limitation on and carryback of losses as well as recognizing separate return limitation year rules, and
apply consolidated bases rules for the bases of stock of subsidiaries, basis adjustments and the calculation of earnings and profits dividends.