All glossary terms
Glossary term
Consolidated Return
Single federal income tax return filed by an affiliated group of corporations.
Related terms
2
Jurisdictions
us
Definition
Sections 1501-1504 permit affiliated groups (parent owning 80 percent of subsidiaries) to file a consolidated return. Intercompany transactions are deferred until effective ratification on an outside transaction.
Examples
- A parent corporation and its 100-percent-owned subsidiaries file one consolidated Form 1120.
Related terms
Translations
ESdeclaración consolidada
ZH合并报税表
DEkonsolidierte Steuererklärung
FRdéclaration consolidée
JA連結納税申告
Citations
26 U.S.C. · 1501
Related citations
Computed from the cross-reference graph. Links open the related entity on this site.
This entry cites
- TermControlled Group
- TermAffiliated Group
Cited by
- TermControlled Group
- TermAffiliated Group
Primary sources
- IRS: Consolidated returnsVerified 2026-05-20
Important disclaimer
This library is for general tax education only. Always verify filing obligations, due dates, and tax consequences against the cited primary source or with a qualified tax professional.