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Date / Time / Location

Thursday, October 31, 2019
10:00 AM - 12:00 PM

Webcast

CPE Credits

  • 2.00 CPE Credits in TX

Pricing

  • $89.00 - Member
  • $89.00 - Non Member

Course Developer

Areas of Interest

Part of the technical competence of most experienced tax practitioners is the ability to advise owners of S corporations and partnerships or multiple-member LLCs treated as partnerships regarding the tax rules that apply when these entities liquidate. Entity liquidations do not occur every day; but they do occur, and often at very critical times in the business life of the entity and its owners. All tax practitioners should be able to advise their clients about the tax issues associated with client businesses that go out of existence and liquidate. This program explains the tax consequences associated with liquidating S corporations, partnerships and multiple-member limited liability companies treated as partnerships.

Designed For

Any tax practitioner who wishes to understand the rules regarding S corporation and partnership liquidations.

Benefits

  • Determine the gain or loss to the entity and to the owners when it makes a liquidating distribution
  • Determine the basis of property distributed in a liquidating distribution to an owner of the entity
  • Know what to do in terms of IRS reporting when an entity liquidates

Highlights

  • Tax rules governing liquidation of a partnership or S corporation
  • Tax treatment of the shareholder/partner/member receiving a liquidating distribution in an S corporation liquidation/partnership liquidation
  • Tax impact on the pass-through entity when the entity is liquidated
  • Receipt of corporate liabilities in an S corporation distribution
  • Proportionate, liquidating partnership distributions to partners, and gains and losses to a partner on a liquidating partnership distribution
  • Tax issues associated with a partnership distribution of noncash properties in a liquidation
  • Compliance requirements on the occasion of a liquidation of a corporation or a partnership

Course Level

Intermediate

Prerequisites

Basic understanding of the tax rules impacting individuals and pass-through entities.

Advance Preparation

None
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Michael Tucker

Michael J. Tucker, CPA, Ph.D., J.D., LL.M.
Ph.D., JD, CPA
Professional Education Network

Michael J. Tucker is an employee of Surgent McCoy CPE, LLC and a consultant for the accounting firm of T.M. Byxbee Co. in Hamden, CT. He is the author of many professional articles and a veteran TV and live-seminar presenter. In addition, he heads up Surgent McCoy's webinar efforts, where he writes and hosts many of the webinars Surgent McCoy sponsors and presents. Mr. Tucker was a professor at Quinnipiac University in Hamden, CT and worked with KPMG Peat Marwick and Deloitte & Touche. Mr. Tucker received his J.D. from New York University, his LL.M. from Georgetown University Law Center, and his Ph.D. from the University of Houston.

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Pre-Registration Closed

Online pre-registration for this event is now closed.