- NY Credits : 6.0
- TX Credits : 6.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 6.0
The relationships between business entities and their owners can be confusing and complex, particularly when they concern federal income tax rules and regulations. This course explores numerous salient sections of the IRC related to those relationships. This course provides guidance on making determinations concerning issues of control and shareholder basis; appropriately handling Section 351 classifications and calculations; identifying related filing requirement; discussing issues related to the corporate capital structure including those concerning small business stock, debt versus equity, and thinly-capitalized corporations; applying rules for attribution and redemption; and calculating shareholder basis in distributions. This course is most appropriate for the professional with detailed knowledge in corporate taxation who may be at a mid-level position within an organization with operational or supervisory responsibilities, or both.
Upon successful completion of this course, the user should be able to:
recognize the effects of a corporation's formation on shareholders,
identify the effects of a corporation's formation on the corporation,
determine liabilities during a corporate formation,
delineate the corporation's capital structure,
determine distributions, and
summarize other redemption issues.