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If the IRS reclassifies debt as equity, the repayment of the debt by the corporation to the shareholder automatically is treated as a dividend.
Q12: The tax consequences to a donor of
Q18: When compared to a partnership, what additional
Q26: Purple, Inc., a domestic corporation, owns 80%
Q40: Inventory<br>A)Cash basis accounts receivable, for example.<br>B)Fair market
Q64: An S corporation cannot incur a tax
Q69: Misstatement of withholding allowances.<br>A)Taxpayer penalty<br>B)Tax preparer penalty<br>C)Appraiser's
Q105: Typically exempt from the sales/use tax base
Q120: A _tax is designed to complement the
Q123: What is the significance of the term
Q169: LaCharles made a charitable contribution of property