ASSIGNMENT 3: REORGANIZATIONS AND CONSOLIDATED TAX RETURNS

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ASSIGNMENT 3: REORGANIZATIONS AND CONSOLIDATED TAX RETURNS

 

ASSIGNMENT 3: REORGANIZATIONS AND CONSOLIDATED TAX RETURNS

Due Week 7 and worth 250 points

Suppose you are a CPA, and you have a corporate client that has been operating for several years. The company is considering expansion through reorganizations. The company currently has two (2) subsidiaries acquired through Type B reorganizations. The client has asked you for tax advice on the benefit of a Type A, C, or D reorganization over a Type B reorganization. Additional facts regarding the issues are reflected below.

  • The company currently files a consolidated income tax return with the two (2) subsidiaries acquired through a Type B reorganization.
  • ABC Corporation, a subsidiary targeted by the client for takeover, has substantial net operating losses.
  • XYZ Corporation and BB Corporation will be acquired as subsidiaries in the next six (6) months.

Use the Internet and Strayer databases to research the rules and income tax laws regarding Types A, B, C, and D reorganizations and consolidated tax returns. Be sure to use the six (6) step tax research process in Chapter 1 and demonstrated in Appendix A of your textbook as a guide for your written response.

Write a four to six (4-6) page paper in which you:

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ASSIGNMENT 3: REORGANIZATIONS AND CONSOLIDATED TAX RETURNS

Due Week 7 and worth 250 points

Suppose you are a CPA, and you have a corporate client that has been operating for several years. The company is considering expansion through reorganizations. The company currently has two (2) subsidiaries acquired through Type B reorganizations. The client has asked you for tax advice on the benefit of a Type A, C, or D reorganization over a Type B reorganization. Additional facts regarding the issues are reflected below.

  • The company currently files a consolidated income tax return with the two (2) subsidiaries acquired through a Type B reorganization.
  • ABC Corporation, a subsidiary targeted by the client for takeover, has substantial net operating losses.
  • XYZ Corporation and BB Corporation will be acquired as subsidiaries in the next six (6) months.

Use the Internet and Strayer databases to research the rules and income tax laws regarding Types A, B, C, and D reorganizations and consolidated tax returns. Be sure to use the six (6) step tax research process in Chapter 1 and demonstrated in Appendix A of your textbook as a guide for your written response.

Write a four to six (4-6) page paper in which you:

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