Event Description

This course covers all the bases from strategic tax considerations to forms and reporting requirements involved in the complete liquidation of a corporation.  Pertinent sections of the IRS code will be reviewed. Impact on owners and shareholders will be discussed, and much more.

Designed For

CPAs and tax professionals

Objectives

Provide a comprehensive understanding of the operational implications and obligations, reporting and filing requirements involved in the dissolution of a corporation. 

Major Subjects

Tax consequences at the corporation and shareholder levels of the repeal of the General Utilities doctrine Concept of complete liquidation for federal income tax purposes versus the concept of dissolution under state law Gain or loss recognized at the corporation level on the distribution of property in complete liquidation of a corporation under section 336 Tax effects of a complete liquidation at the shareholder level under Sections 331 and 334(a) Possible application of the installment method at the shareholder level to the distribution of an installment obligation by an S corporation under Section 453(h)(1) Possible application of the installment method at the S corporation level to the distribution of an installment obligation under Section 453B(h) IRS Forms that are required to be filed in connection with the complete liquidation of a corporation  

Prerequisites

Basic understanding of tax law and corporate legal structures.

Instructions

None.