The IRS has issued final regs that modernize the language of rules governing consolidated corporate income tax returns filed by affiliated groups, accompanied by proposed regs to clarify the treatment of certain transfers of between members of the same group. (TD 10018; NPRM REG-134420-10, 12/30/2024)
Affiliated groups are one or more chains of includible corporations connected through stock ownership with a common parent if the requirements of the “80% vote and value test” are met. That is, the stock possesses at least 80% of the total voting power and also equals at least 80% of the total value of the stock of that corporation.
To dig deeper, visit the original article on the Thomson Reuters blog.