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1. • • IRS Free File is a partnership between the IRS and seven of the country's biggest online tax-prep companies. If your adjusted gross income was $79,000 or less in 2023, you are eligible to use Free File to process and submit a simple return for free. Some participating companies will even process your state return.
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2. People also ask

   Does a group file a federal consolidated return?

   • Furthermore, this may be so regardless of whether the group files a federal consolidated return or federal separate returns. In addition, the Portfolio addresses the state tax implications of federal consolidated returns and the federal consolidated return regulations.

   Income Taxes: Consolidated Returns and Combined Reporting (Portfolio

   pro.bloombergtax.com/portfolio/income-taxes-consolidated-returns-and-combined-reporting-portfolio-1130/

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   What happens if an affiliated group files a consolidated tax return?

   • An affiliated group electing to file a consolidated tax return may substantially alter its combined overall tax liability. For example, a consolidated return ignores sales between connected corporations and therefore no tax is marked. Deferment of taxable gains or losses become realized with the ultimate sale to an outside third party.

   What Is a Consolidated Tax Return? Filing Process, Pros, and Cons

   www.investopedia.com/terms/c/consolidated-tax-return.asp

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   What is a group consolidated tax return?

   • The consolidation of the tax returns of any affiliated group includes consolidating the group's regular income tax, foreign tax credit, accumulated tax earnings, and any tax credits. Most importantly the parent company is liable to serve as the groups agent as regards filing the consolidated Form 1120 and also paying the federal tax liability.

   All You Need to Know About Consolidated Tax Return

   www.taxprofessionals.com/articles/all-you-need-to-know-about-consolidated-tax-return-4067

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   Can you file a tax return for free?

   • Taxpayers in 12 states may be eligible to file for free with the IRS Direct File pilot, a new tax filing service from the IRS. Tax Tip 2024-08, Feb. 15, 2024 — With IRS Free File, even complicated tax returns can be filed for free. IRS Free File helps millions of taxpayers file their federal and state tax returns for free every year.

   Taxpayers with complicated tax returns can use IRS Free File

   www.irs.gov/newsroom/taxpayers-with-complicated-tax-returns-can-use-irs-free-file

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3. www.taxprofessionals.com › articles › all-you-needAll You Need to Know About Consolidated Tax Return

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   A consolidated tax return is a corporate income tax return of an affiliated group, who elect to report their combined tax liability on a single return. How To File A Consolidated Tax Return. Consent by all the corporations within a group to file a consolidated return, which subsidiaries do by filing Form 1122, Authorization and Consent Income ...

4. www.investopedia.com › consolidated-tax-returnWhat Is a Consolidated Tax Return? Filing Process, Pros, and Cons

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   Dec 1, 2023 · 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. This tax return...

   • Author: Julia Kagan

5. www.irs.gov › newsroom › taxpayers-with-complicatedTaxpayers with complicated tax returns can use IRS Free File

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   Feb 15, 2024 · IRS Tax Tip 2024-08, Feb. 15, 2024. With IRS Free File, even complicated tax returns can be filed for free. IRS Free File helps millions of taxpayers file their federal and state tax returns for free every year. The IRS Free File adjusted gross income (AGI) limit for tax year 2023 is $79,000 for families and individuals.

6. www.irs.gov › newsroom › need-more-time-to-file-aNeed more time to file a federal tax return? It’s easy with ...

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   Apr 11, 2024 · IR-2024-106, April 11, 2024 — With the April 15 tax filing deadline fast approaching, the Internal Revenue Service reminds taxpayers who need more time to file their return that receiving an extension is quick and easy through IRS Free File on IRS.gov.

7. pro.bloombergtax.com › portfolio › income-taxesIncome Taxes: Consolidated Returns and Combined Reporting ...

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   Issues discussed include those arising when a group files a consolidated federal income tax return, but one or more members file in a taxing state using the separate return method. The Portfolio also discusses issues that may arise in filing state combined reports and contrasts how these issues have been handled at the state level with the ...

8. www.freshbooks.com › tax › consolidated-tax-returnConsolidated Tax Return: Definition & Understanding Filing ...

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   Feb 6, 2023 · What Is a Consolidated Tax Return? A consolidated tax return is a form of corporate income tax return, for corporations, it is Form 1120, Corporate Income Tax Return. It is filed by an affiliated group of corporations that elect to report their combined tax liability on a single consolidated return.

9. www.irs.gov › newsroom › first-time-tax-filers-irsFirst time tax filers: IRS Free File can make filing easier

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   Feb 14, 2024 · IRS Tax Tip 2024-07, Feb. 14, 2024. If taxpayers are filing a tax return for the first time, IRS Free File can help. This program provides free tax preparation, free electronic filing and free direct deposit for eligible taxpayers. The IRS Free File adjusted gross income (AGI) limit for tax year 2023 is $79,000 for families and individuals.