- NY Credits : 5.0
- TX Credits : 5.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 5.0
Reorganizations are one of the more complicated areas of corporate taxation; this course peels away several layers of complexities. We will examine the general requirements for a tax-free reorganization, the continuity-of-interest test, asset-continuity tests, and the business-purpose test. This course also explores the various types of tax-free reorganizations (e.g., Type A, B, C, D, E, F, or G). In addition, you will learn which reorganization transactions qualify for tax-free treatment and review the related reporting requirements. Corporate reorganizations can have a tax impact on acquired and acquiring corporations, as well as the shareholders. You will understand the gain or loss recognized in a reorganization transaction, the use of boot in a reorganization transaction, the effect of liabilities assumed in a reorganization transaction, and the basis of assets received in a corporate reorganization. This course will also introduce the allocation rules for certain asset acquisitions and the amortization of intangible assets under IRC Section 197.
NOTE: This course has been updated for the relevant 2018 provisions of the Tax Cuts and Jobs Act of 2017 and Bipartisan Budget Act of 2018, when and if applicable.
Upon successful completion of this course, the user should be able to:
recognize corporate reorganizations in general,
identify types of reorganizations,
determine the tax effects of corporate reorganizations, and
define purchase price allocation.