Chapter 9: Consolidated Returns & Advanced Corporate Issues

In this section

• Affiliated Groups, Membership & Filing Requirements
  Explore the criteria for parent-subsidiary control, consolidated return eligibility, and the complexities of partial-year acquisitions for CPA exam success.
• Intercompany Eliminations & Deferred Gains
  Learn how to remove intercompany transactions from consolidated returns while properly deferring gains, ensuring a more accurate representation of economic reality in a corporate group’s tax computations.
• SRLY (Separate Return Limitation Year) Rules & NOL Interactions
  Explore Separate Return Limitation Year (SRLY) rules for pre-acquisition net operating loss (NOL) usage under consolidated return regulations, and understand how these rules impact corporate tax planning and compliance.
• International Corporate Tax: FDII, GILTI, BEAT, CFCs
  Discover the intricacies of FDII, GILTI, BEAT, and CFCs in international corporate tax. Understand compliance thresholds, inclusion rules, Subpart F, and planning strategies crucial for the CPA Exam (TCP).