Questions from Federal Taxation

Q: List the structural and compliance requirements under Federal income tax law that

List the structural and compliance requirements under Federal income tax law that must be met before a parent and its affiliates are allowed to file on a consolidated basis. Consider only the requirem...

Q: Black, Brown, and Red corporations are considering a corporate restructuring

Black, Brown, and Red corporations are considering a corporate restructuring that would allow them to file Federal income tax returns on a consolidated basis. Black holds significant NOL carryforwards...

Q: Continue with the facts presented in Question 7. In addition,

Continue with the facts presented in Question 7. In addition, assume that Critical Thinking Brown Corporation has a history of making large, continuous charitable contributions that are important in i...

Q: You are making a presentation to the board of directors of HugeCo

You are making a presentation to the board of directors of HugeCo about the merits of acquiring Bitty, Ltd., an important supplier. One board member, knowing that you are a tax specialist, asks you to...

Q: The Pelican Group cannot decide whether to start to file on a

The Pelican Group cannot decide whether to start to file on a consolidated basis for Federal income tax purposes, effective for its tax year beginning January 1, 2018. Its computational study of die e...

Q: Which of these taxes may be incurred by an S corporation?

Which of these taxes may be incurred by an S corporation? a. Corporate income tax. b. Tax on certain built-in gains. c. Property tax assessed by the county.

Q: In working as the tax consultant for LargeCo, Megan discovers that

In working as the tax consultant for LargeCo, Megan discovers that for the first time, the corporation is eligible to form a consolidated group for filing its Federal corporate income tax returns. Lis...

Q: What issues arise if a partner contributes appreciated property to a partnership

What issues arise if a partner contributes appreciated property to a partnership and other appreciated property is later distributed to that partner?

Q: Use a timeline to diagram the gain/ loss recognition by this

Use a timeline to diagram the gain/ loss recognition by this affiliated group. • Year 1: SubCo purchases an asset for $400. • Year 3: SubCo sells the asset to Parent for $300. • Year 4: Parent sells t...

Q: Distinguish between the treatment of§ 736 income and property payments.

Distinguish between the treatment of§ 736 income and property payments. What are the tax consequences of such payments to the retiring partner, the remaining partners, and the partnership?