After a group elects to file a consolidated tax return, it may shift back to separate returns in a later year if there is unanimous consent among members of the group.

Question

Quizplus · Accepted Answer

Once a group elects to file a consolidated tax return, it generally cannot revert to filing separate returns unless specific conditions are met, such as the group no longer meeting the requirements to file a consolidated return. Unanimous consent alone is not sufficient.

After a Group Elects to File a Consolidated Tax Return