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Federal Consolidated Return Regulations For Corporate Taxpayers: Mastering Complex Rules And Guidance

Webinar: ID# 1015087
Recorded CD or On-Demand
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Federal Consolidated Return Regulations For Corporate Taxpayers: Mastering Complex Rules And Guidance
About This Course:
Significant amendments to federal consolidated return regulations for corporate income tax continue to create compliance challenges for tax staffs of large, complex companies. Those challenges include the avoidance of the creation or triggering of intercompany gains and the proper utilization of regulatory elections to maximize tax benefits.

Attention to recent IRS rulings and guidance is crucial to mastering the complexities, but some issues remain confusing. Tax specialists continue to grapple with consolidated Sect. 382 matters, NOL usage, discharge of debt income, disaffiliation and other issues relevant to combined groups.

Even without recent regulatory changes and private letter rulings, understanding the vast regulatory demands of the consolidated return rules is an ongoing battle. Lessons from experienced peers and advisory professionals can make the difference between an accurate return and costly mistakes.

Listen as our panel of experienced advisors and corporate tax professionals provides updates on recent regulations and guidance and outlines best practices for sharpening consolidated return compliance on an ongoing basis.

Outline
  • Changes to federal law that affect planning for consolidated returns

    • NOL carryforward changes
    • Discharge-of-indebtedness income changes
    • M&A transaction changes
    • Sect. 383 issues
    • Impact of current environment
    • Debt restructurings
    • Worthless stock deductions
    • Other relevant law changes

  • Consolidated return regs and guidance
  • Key consolidated return regulatory sections that offer ongoing compliance challenges

    • Investment adjustments
    • Affiliations and reverse acquisitions
    • Intercompany transactions
    • Consolidation issues (acquisitions and separations)
    • Loss disallowances
    • Consolidated group joint ventures
    • Experiences and examples from past and current filings and audits
    • Best practices for return preparation
    • Common mistakes and pitfalls in completing combined returns
Benefits

The panel will address these and other key issues:
  • Understanding recent changes, including laws, regulations and IRS guidance on affiliation and intercompany transaction issues.
  • Analysis of key sections of consolidated return regulations that offer ongoing problems for corporate taxpayers
  • Lessons from return filing and federal audit of consolidated returns
  • Coping with traps for the unwary in the unified loss rules
Learning Objectives

After completing this course, you will be up to date on the current federal laws, regs and guidance that affect federal consolidated return preparation and on recent changes. You will also have best practices for ongoing return compliance, drawn from examples provided by the panelists from their experiences in filing and audit preparation.



Credits Available

This program has been approved for 2.0 CPE hours through Strafford Publications. CPE Credit is available only for the LIVE webcast. Recorded versions do not qualify for credit.

Strafford is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

Processing

To obtain CPE credit, attendees must participate in the live event, return an Official Record of Attendance to Strafford affirming their participation (including the CPE code announced during the program), and pay a processing fee of $35 per person.

Credit Confirmation

Strafford will mail a certificate of credit within approximately 2 weeks of receiving an attendee's completed Official Record of Attendance—provided all required conditions have been satisfied.



Delivery

Handout materials and the phone number for live presentations are made available to you 1 day prior to the event via email from the presenter. Copies of the presentations are included with recorded versions.

If you order a recorded version of the webinar, CD's will be mailed out approximately 10 days after the live event. Shipping is included in the price of recorded versions.


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Federal Consolidated Return Regulations For Corporate Taxpayers: Mastering Complex Rules And Guidance
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