• videocam Live Webinar with Live Q&A
  • calendar_month December 9, 2026 @ 1:00 PM ET/10:00 AM PT
  • signal_cellular_alt Intermediate
  • card_travel Tax Law
  • schedule 90 minutes

Tax Rules for Liquidating Corporations: Multiple Distributions, Liabilities, Required Filings, Converting to LLC

Key Tax Considerations for Liquidating and Converting Corporations, Exceptions for Reorganization Plans and Foreign Corps

$347.00

This course is $0 with these passes:

CLE
CPE
ALL
  1. keyboard_arrow_leftBack

About the Course

Introduction

This CLE/CPE course will provide tax professionals guidance on critical tax rules and requirements for liquidating corporations. The panel will discuss key tax provisions and implications for liquidating corporations, partial liquidations, multiple distributions, liabilities, impact of OBBBA, and required federal and state filings. The panel will also analyze key issues for liquidating foreign corporations and foreign shareholders, and pitfalls to avoid when converting to LLCs or structuring reorganization plans.

Description

Corporations considering or undergoing a liquidation, reorganization, or conversion are subject to various tax implications. Tax professionals must identify key federal and state tax issues and implement methods to minimize adverse tax consequences for liquidating corporations.

A corporate liquidation can trigger income tax liability at both the corporate and shareholder levels. When a corporation partially or completely liquidates through a one-time transaction or a series of distributions, the cash and the fair market value of the assets received by a shareholder are treated as taxable proceeds in exchange for the stock.

If a complete distribution occurs within one year, starting with the first distribution date, the distribution will be treated as a liquidating distribution. However, a liquidation plan can be implemented, allowing for either a single distribution or a series of distributions made over multiple years, allowing the shareholder the possibility of not recognizing gains.

Tax counsel and advisers must also recognize tax implications stemming from (1) the consolidated group rules; (2) treatment of liabilities; (3) necessary federal and state filing requirements; and (4) converting to LLC taxed as a partnership.

Listen as our panel discusses key tax provisions and implications for liquidating corporations and pitfalls to avoid when converting to LLCs or structuring reorganization plans.

Presented By

Rolando Garcia, JD, CPA
Tax Director
Doeren Mayhew

With nearly 25 years of experience in public accounting, Mr. Garcia is adept at counseling business owners in developing options for effective solutions, while keeping an eye toward federal, state and international tax optimization. With an extensive background in domestic and international tax, he brings a tailored approach to working with his clients, which is why they often rely on him to identify savings opportunities relevant to their industry and resolve complex tax matters as they arise. Mr. Garcia is a frequent author featured in various accounting publications and journals and is regularly invited to speak as a subject-matter expert at industry-related events across the nation. Prior to joining the firm, he owned a boutique tax practice in South Texas and later served as a national leader for the international private client service group at a large international CPA firm.

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio
Patrick McCormick
Partner
gunnercooke LLP

Mr. McCormick is an attorney with fifteen years of experience, focusing his practice on international taxation. He represents both business and individual clients on all aspects of United States international tax rules, both from an income tax and estate/gift tax perspective. Having previously served as a partner at large law firms, an accounting firm, and a boutique tax law firm, Mr. McCormick's client exposures have covered every conceivable area of American-side international tax matters. He has worked with clients located in over 130 countries on American tax considerations of multinational activities, cultivating specialized knowledge in every area of United States international tax rules. Mr. McCormick's practice focus has facilitated an unparalleled expertise in the field; he is trusted by clients and advisors around the world to obtain optimal results on international tax matters. Mr. McCormick is licensed to practice in Pennsylvania and New Jersey. and regularly assists clients (particularly multinationals) with estate planning needs in these jurisdictions.

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio
Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • CPE credit is not available on recordings.

  • BARBRI is a NASBA CPE sponsor and this 90-minute webinar is accredited for 1.5 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).


  • Live Online


    On Demand

Date + Time

  • event

    Wednesday, December 9, 2026

  • schedule

    1:00 PM ET/10:00 AM PT

I. Overview of tax considerations for liquidating corporations

II. Tax implications for partial liquidations and multiple distributions

III. Considerations and exceptions for reorganization plans

IV. Foreign liquidating corporations and foreign shareholders

V. Necessary federal and state tax filings

The panel will review these and other key issues:

  • What are the key tax provisions applicable to the liquidation of corporations?
  • What are the challenges and pitfalls to avoid in liquidating or restructuring corporations?
  • What are the potential tax implications of partial liquidations and multiple distributions?
  • What are the required federal and state tax filings?
  • What are the key issues presented for foreign liquidating corporations and foreign shareholders?


Learning Objectives:

After completing this course, you will be able to:

  • Identify key tax provisions applicable to the liquidation of corporations
  • Recognize the tax challenges and pitfalls to avoid in liquidating or restructuring corporations
  • Understand the potential tax implications of partial liquidations and multiple distributions
  • Ascertain guidance on key tax considerations and exceptions for reorganizations plans
  • Ascertain methods for maintaining compliance with federal and state filings for liquidating corporations
  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite:

    Three years+ business or public firm experience at mid-level within the organization, preparing complex income tax forms and schedules for corporations and pass through entities; supervisory authority over other preparers/accountants. Knowledge and understanding of corporate and partnership structures, dissolution and related taxation.

BARBRI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .