1120 Preparation and Planning 6: Estimated Taxes and Special Topics (2025 Edition)

Author: Greg White, Barbara Weltman

Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2027 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card

This is the sixth in a series on Form 1120, focusing on estimated taxes and special topics or situations. This course provides a refresher on the preparation of corporate income tax returns.

The course reflects the extensive changes effective for 2024 that were made by legislation, court cases, and IRS pronouncements. These changes impact 2024 tax year returns that will be filed during the 2025 filing season and refund opportunities for earlier years; as well as point the way to strategic planning in 2025 and beyond. This course brings the tax preparer "up-to-speed" in preparing 2024 tax returns for the 2025 filing season.

Publication Date: October 2024

Designed For
Tax Practitoners

Topics Covered

• Estimated Taxes
• Quick Refunds
• PAL Rules
• Accumulated Earnings Tax
• Personal Holding Companies
• Multiple Corporations
• International Businesses
• Audit Issues

Learning Objectives

• Recognize how to calculate required estimated tax payments to avoid penalties
• Identify the election options to use different annualized periods
• Describe the steps to file for quick refunds of overpayments
• Recognize the situations when a corporation must contend with the passive activity loss rules
• Identify the steps to avoid accumulated earnings penalties and personal holding company tax
• Identify the implications of multiple corporations
• Describe rules for international businesses and their shareholders
• Describe audit strategies

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (1 hour)

Program Prerequisites
None

Advance Preparation
None