Corporate Tax Workshop (Advanced) (771)

General Description:

The program is designed to take the participants beyond the basic rules that apply to the preparation of the tax return and discusses corporate problems that are commonly encountered later on in the life cycle of the corporation. The instructor will assume that the participant is familiar with all the forms necessary for the preparation of Forms 1120 and 1120S and understands the basic operating provisions for both C and S corporations.

Learning Objectives:

After completing this course the participant will be able to:

• Discuss the tax effect of various corporate distributions, including dividends, qualified dividends, nonliquidating distributions, and distributions of property for both a C and an S corporation.
• Calculate earnings and profits and AAA for an S corporation.
• Determine the tax effects of stock redemptions, partial liquidations, and the attribution rules of §318 as the rules apply to both a C and S corporation.
• Demonstrate the problems with redeeming stock using a related corporation under §304.
• Illustrate taxable and nontaxable stock dividends and define §306 stock.
• Calculate the personal holding company tax.
• Describe the tax effects upon complete liquidation of both a C and S corporation, including a §338(h)(10) election and a §336(e) election.
• Explain the limitation on deduction of net operating losses after an ownership change occurs under §382.
• Identify the basic types of acquisitive and divisive reorganizations for both a C and S corporation, including a nontaxable corporate division under §355, and identify when to use each type.

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: