- NY Credits : 2.0
- TX Credits : 2.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 2.0
- IRS Non-Credentialed Return Preparer Credits : Federal Tax - 2.0
This course introduces the filing requirements of a consolidated income tax return. The first chapter presents the technical definitions of a controlled, affiliated and consolidated groups as well as the different relationships groups like parent-subsidiary, brother-sister and combined controlled groups. The second chapter outlines the benefits and qualifications to be considered an affiliated group as well as including an LLC in a consolidated return. The third chapter dives deeper into the qualifications and election of filing a consolidated return. Then, the last two chapters present intercompany transactions and Separate Return Limitation Year (SRLY) Rules.
Included with subscription(s):
Upon successful completion of this course, the user should be able to:
define controlled, affiliated and consolidated groups;
identify the benefits and qualification to be an affiliated group;
recognize the qualifications and process to elect to file a consolidated return;
determine how to treat intercompany transactions; and
identify the proper application of Separate Return Limitation Year (SRLY).