Treat-ise Yourself to Greater Insights

Whether you’re in need of a refresher or are learning the area of consolidated tax returns for the first time, the Federal Income Taxation of Corporations Filing Consolidated Returns (2d ed.) treatise is a valuable resource for the information you need. Practical Guidance Tax provides links to key sections of this seminal treatise in its content, including this practice note on consolidated return fundamentals in C corporations.

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Related Content

• Tax Treatment of Net Operating Losses (NOLs) of Corporations
  Find additional references to the Federal Income Taxation of Corporations Filing Consolidated Returns treatise in this practice note, covering the essentials of addressing NOLs in consolidated groups. 

Legal Developments

• Multinationals Face Most of Inflation Act’s Biz Taxes, Prof. Says
  Multinational corporations would bear most of a 15% minimum tax and a 1% tax on net share repurchases in the Inflation Reduction Act recently signed into law.

• New Climate Law Expands Ways To Monetize Energy Credits
  Clean energy projects' access to existing and new energy tax credits is expected to go beyond the traditional tax equity financing with new ways to monetize the refunds under a sweeping new law that aims to tackle climate change. 

Practical Guidance Updates 
Featuring the latest updates from your Practical Guidance account.    

• Tax Key Legal Developments Tracker (Federal)
  Stay informed on new developments: 
  • Business Entities. The Inflation Reduction Act of 2022 ( L. No. 117-169), enacted on August 16, 2022, imposing 15% alternative minimum tax on certain domestic corporations, imposing 1% excise tax on repurchase of corporate stock, funding the IRS, requiring drug price negotiation under Medicare, requiring prescription drug inflation rebates, extending certain Affordable Care Act subsidies, and modifying and extending certain energy tax credits.
  • Practice, Procedure and Controversy
    Treasury issues proposed regulations reflecting provisions of the “Taxpayer First Act of 2019” (Pub. L. No. 116-25), which codified the IRS Independent Office of Appeals in its role as the independent administrative appeals function within the IRS. 87 Fed. Reg. 55934 (Sept. 13, 2022).

• Document alerts allow you to stay current on legal developments that affect your practice. Find out how to set up your document alerts. 
• Share fundamental guidance with your firm’s new associates to help them sharpen their research and writing skills, get the inside scoop on associate survival, and hit the ground running in the tax practice area. Review the resources in the First Year Associate Resource Kit: Tax.
• Listen up! Access our growing collection of podcasts by navigating to the Practical Guidance Podcasts Resource Kit.
• New and Recently Updated Practical Guidance Content
  • Dobbs v. Jackson Women’s Health Organization Resource Kit
  • Leaving the United States: U.S. Tax Planning for U.S. Citizens and Tax Residents Temporarily or Permanently Leaving the U.S.
  • Inflation Reduction Act of 2022: Tax Provisions
  • Statute of Limitations for Tax Returns (No Substantial Omissions)
  • Relocating Abroad? Don’t Forget the Tax Issues Video
  • Unauthorized Disclosure of Taxpayer Information (IRC Sections 6103 and 7431)
  • IRC Section 367 and Cross-Border Transfers

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