The National Association of Tax Professionals

The National Association of Tax Professionals

Closing a Corporation - Final 1120/1120S

  • Topic(s): Business
  • Presenter(s): Larry Zimbler
  • Session#: 935-15
  • Session Length: 100 minutes
  • Program: NATP National Conference 2015
  • Date: Jul 20, 2015
Product Name Price
Audio MP3 (download)
$15.95
AudioPoint for Mobile Device - MP4 (download)
$24.95

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Closing a Corporation - Final 1120/1120S - Details:

A corporation's life eventually will come to an end. In this session, we'll discuss the sale of business assets for both C and S corporations, abandonment and repossession of assets. Federal tax law and general state law processes are presented, and special situations such as the abandonment of goodwill and attribution of goodwill to a shareholder are discussed. Make sure to download the appendix containing examples

Upon completion of the session, you will be able to:
  1. List steps required in closing a corporation.
  2. Identify the differences between closing a C corporation and closing an S corporation.
  3. Identify the special rules for installment sales.
  4. Account for the disposition of assets and the final Form 1120/1120S.
  5. Summarize the impact a liquidation has on corporate shareholders.
  6. Identify special considerations applicable to corporate liquidations.