Tax Refresher for S and C Corporations (688)

General Description:

The course will provide the practitioner with an overview and refresher of the corporate tax provisions of subchapter C.

Learning Objectives:

After completing this course the participant will be able to:

• Describe classification problems, including check-the-box regulations and an association taxable as a corporation.
• Describe the tax problems encountered with the formation of a corporation and transfer of assets, and potential pitfalls to be avoided.
• Discuss operational problems, including selection of tax year, restrictions on method of accounting, effect of the aggregation rules on accounting methods, electing S corporation status, calculating earnings and profits and AAA, and common closely held corporation problems.
• Discuss distribution problems, including dividends, qualified dividends, nonliquidating distributions, and distributions of property.
• Determine the tax effects of stock redemptions, partial liquidations, and the attribution rules of §318.
• Demonstrate the problems with redeeming stock using a related corporation under §304.
• Illustrate taxable and nontaxable stock dividends and define §306 stock.
• Describe the tax effects upon complete liquidation of a corporation.
• Explain a §338(h)(10) election and a §336(e) election.
• Compute the personal holding company tax.
• Identify the basic types of acquisitive and divisive reorganizations, including a nontaxable corporate division under §355.
• Identify the basic tax attributes of a corporation and when their use is limited by §382.

Instructors:

Mark A. Vogel is a retired professor and director of the University of Denver Graduate Tax Program, where for 38 years he taught courses in individual, fiduciary, tax accounting, partnership, and corporate taxation. He is the author of Divorce Taxation Guide (John Wiley & Sons) and Individual Taxation (Shepards/McGraw-Hill). He received a J.D. and LL.M. in Taxation from the University of Denver College of Law and an undergraduate accounting degree from the University of Notre Dame. He is also a CPA licensed in Illinois.

Related Courses: