Ad
related to: does a group file a federal consolidated return for refundthecountyoffice.com has been visited by 1M+ users in the past month
Check all IRS tax forms with instructions to file your taxes with ease. Unlock tax benefits. File your taxes now to discover potential deductions.
Search results
Description. Bloomberg Tax Portfolio, Consolidated Returns — Elections and Filing, No. 754, analyzes the eligibility requirements and the scope of the consolidated return regulations. Generally, affiliated groups may elect to file consolidated returns in lieu of separate returns.
3 days ago · A consolidated tax return is a corporate income tax return of an affiliated group of corporations that elect to report their combined tax liability on a single return....
- Julia Kagan
A consolidated tax return gives reports on the income generated or loss incurred of the parent for the entire business year, but only a section of the year for which any affiliated group belonged to the group must be reported on the consolidated return.
A group which filed (or was required to file) a consolidated return for the immediately preceding taxable year is required to file a consolidated return for the taxable year unless it has an election to discontinue filing consolidated returns under paragraph (c) of this section.
Jun 19, 2020 · When a group of corporations file a federal consolidated return, the IRS generally issues any consolidated tax refund to the parent of the group. It is then up to the group members (taking into account contractual arrangements and corporate law) to determine which member is entitled to the asset.
Oct 31, 2018 · A consolidated group’s parent corporation acts as the group’s agent in all federal income tax matters [Treasury Regulations section 1.1502-77 (a)]. In this role, the parent corporation pays the group’s tax liability, receives its tax refunds, and interacts with the IRS on the group’s behalf.
us Income taxes guide. ASC 740-10-30-27 requires that the consolidated amount of current and deferred tax expense for a group that files a consolidated tax return be allocated among the group members when those members issue separate financial statements.
