A calendar year parent corporation wants to file its tax returns on a consolidated basis with its affiliates. The group's election to file consolidated Federal corporate income tax returns must be made by the extended due date of the first return on which the consolidation is applied i.e., October 15).

Question

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The election to file consolidated returns must be made by the extended due date of the first return on which the consolidation is applied, which is October 15 for calendar year corporations.

A Calendar Year Parent Corporation Wants to File Its Tax