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  • Notice 97-25 - Consolidated Returns; Consolidated And Controlled Groups; Correction. Consolidated

Get Notice 97-25 - Consolidated Returns; Consolidated And Controlled Groups; Correction. Consolidated

1.267(f) 1, 1.1502 13(f)(2)(ii), (g)(5), (l)(1), 1.1502 20, 1.1502 32(b), and 1.1502 80(b) are effective July 18, 1995. The correcting amemdments affecting 1.1502 11, 1.1502 19, 1.1502 32(f), 1.1502 43, 1.1502 76 and 1.1502 80(d)(1) are effective January 1, 1995. The correcting amendments affecting 1.1502 13(f)(6) are effective March 14, 1996. For dates of applicability see 1.267(f) 1(l), 1.1502 11(b)(5), 1.1502 13(l)(1), 1.1502 13(f).

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Where a single holding company owns multiple companies, forming a tax consolidated group allows the corporate group to operate as a single entity for income tax purposes. As a result, you lodge a single income tax return and pay a single set of PAYG instalments.

A partnership may not be included in a consolidated return, even if it is 100% owned by members of an affiliated group, since a partnership is not a corporation. However, a member's earnings that flow through from a partnership are included as part of the consolidated group's taxable income or loss.

IRC section 1502 grants Treasury authority to prescribe regulations regarding consolidated returns.

Group consolidation is the merging of two or more business entities. Create invoices for free with SumUp Invoices. Consolidation can be a formal process of legally combining two businesses, or a method of financial reporting, whereby a group of organisations is treated as a single entity.

The term “consolidated group” means a group filing (or required to file) consolidated returns for the tax year. (i) [Reserved] (j) Affiliated. Corporations are affiliated if they are members of a group with each other.

What is a Consolidated Group? A consolidated group is comprised of a parent company and all of its subsidiaries. Consolidated financial statements are issued for a consolidated group. The group may also file a consolidated tax return with the Internal Revenue Service.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232