A Consolidated Tax Return Must Be Filed on the Basis

question 8

Multiple Choice

A consolidated tax return must be filed on the basis of the common parent's taxable year.Which of the following statements is not true?

• A)Each subsidiary must adopt the parent's annual accounting period for the initial consolidated tax return.
• B)A subsidiary must obtain advance permission from the Commissioner to change its tax year to conform to the accounting period of the parent.
• C)The IRS has ruled that it will allow a parent corporation to change its taxable year to that of its subsidiary.
• D)Consolidated tax returns could result in a tax savings.
• E)All of the above statements are true.

---

Definitions:

Rumbaut and Ewing

Refers to researchers or scholars likely known for their contributions to studies on immigration, assimilation, or similar topics, though specifics are needed for a precise definition.

Empirical Evidence

Information obtained through observation or experimentation, as opposed to theory or belief.

Youth Control Complex

is a theoretical framework describing how various institutions work together to monitor, control, and regulate the behavior of young people.

Armed Conflicts

Situations of sustained combat involving organized armed forces, groups, or states, leading to significant harm and disruption to societies.