Liquidation or Termination of C Corporation

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Description

Liquidation or Termination of C Corporation
IRS Program #: X9QQU-T-01017-23-O
CTEC #: 6257-CE-0164
CE: 2 IRS & 2 CTEC credits
Speaker: Daryl Brown, PhD, EA, CPA

During this course we will review items relative to a termination of an entity due to a sale, S corporation election being revoked, as well as, the liquidation of an entity after a sale of the entity’s assets or stock.

Learning Objectives:

Review filing requirements when a C corporation’s assets are sold (Form 8594)
Discuss how a sale of stock is treated by the C corporation and forms to be issued to the shareholder selling their stock (Form 1099DIV)
Define what a liquidating distribution is and the shareholders' tax implications.
Define Tax-free reorganizations due to corporation moving state of incorporation, moving to a different entity type with the same owners (sole proprietorship or partnership)
Review tax filing necessary with the final year of C corporation tax filing (Form 966,1810)

Contributors

Darryl Brown, PhD, EA, CPA, NTPI Fellow

As a former senior manager, with a “big six” public accounting firm, Darryl has a vast array of experience in the area of federal taxation of individuals, small businesses including partnerships and S corporations as well as large public companies (C corporations). As a former college professor, he also has an extensive background teaching, writing, and researching issues pertaining to the same areas of federal tax law including financial reporting and accounting for income taxes. Darryl is EA, CPA, an NTPI Fellow, and he frequently teaches tax courses for NAEA and an array of EA and CPA state societies.

Thank you

Description

Contributors

Darryl Brown, PhD, EA, CPA, NTPI Fellow