Transcription of PENALTY TAXES ON CORPORATE ACCUMULATIONS
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PENALTY TAXES ON CORPORATE ACCUMULATIONS
H Chapter Six H. PENALTY TAXES ON CORPORATE . ACCUMULATIONS . INTRODUCTION AND STUDY OBJECTIVES. The accumulated earnings tax and the personal holding company tax are PENALTY TAXES designed to prevent taxpayers from using the corporation for tax avoidance. Both TAXES are imposed on unwarranted ACCUMULATIONS of income that would have been taxable to the individual if it had been distributed. The purpose of the two PENALTY TAXES is to compel distributions, thereby discouraging taxpayers from using the corporation for tax avoidance purposes. In studying the rules of CORPORATE ACCUMULATIONS , the student should have these objectives: 1. To learn the rules related to the assessment of the accumulated earnings PENALTY tax. 2. To learn the rules related to the imposition of the personal holding company PENALTY tax.
H Chapter Six H PENALTY TAXES ON CORPORATE ACCUMULATIONS INTRODUCTION AND STUDY OBJECTIVES The accumulated earnings tax and the personal holding company tax are ...
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