Available in:

OnDemand Course

Removal of IRS Section 385 Documentation

Understand the factors to take into account when determining debt versus equity.

The classification of an instrument as debt or equity is very important for federal tax purposes. The IRS is authorized to issue regulations providing certain factors that must be taken into account in determining whether a certain instrument is debt or equity (or both). The regulations issued by the IRS, as well as various factors developed by the courts, must be examined when making such a determination. This course will assist those responsible for advising clients on issues regarding debt versus equity, including the documentation requirements or best practices.

Learning Objectives

  • You will be able to identify whether something is debt or equity and identify the advantages of each.
  • You will be able to recognize the 2016 final, temporary and proposed regulations.
  • You will be able to recognize the 2020 final regulations.
  • You will be able to recognize the removal of the documentation regulation.

99 minutes
Course Exam
Certificate of Completion
Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview and Background of Section 385

  • Debt vs. Equity
  • Advantages of Debt
  • Advantages of Equity

Determining Whether Something Is Debt or Equity - Case Law and Guidance

  • Mixon Factors
  • Notice 94-47
  • Plantation Patterns and Parent Guarantees
  • Treatment of Hybrid Instruments (Preferred Stock, Guaranteed Payments, Contingent Debt, etc.)

2016 Final, Temporary, and Proposed Regulations

  • Overview
  • Funding Rule
  • Distribution Rule
  • Documentation Rule

2020 Final Regulations

  • What Changed?
  • What Didn't?
  • Treatment of Temporary Regs

Removal of the Documentation Regulation

  • Withdrawal of 1.385-2
  • Background, Inconsistency
  • Recent Tax Court Decisions (e.g., ITW Case)
Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Maine, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on July 12, 2022.

Call 1-866-352-9540 for further credit information.

  • AK CLE 1.5
     
  • Alaska attorneys may receive 1.5 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
     
  • AL CLE 1.5
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.5 hours credit.
     
  • AR CLE 1.5
     
  • This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
     
  • Arizona CLE 1.5
     
  • The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, LLC. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • GA CLE 1.5
     
  • This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • MO CLE 2.0
     
  • This course qualifies for self-study CLE credit in Missouri.
     
  • ND CLE 1.75
     
  • North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.75 hours of CLE credit.
     
  • NH MCLE 1.6
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 99 Minutes.
     
  • NM CLE 1.6
     
  • This program has been approved by the New Mexico Minimum Continuing Legal Education Board for 1.6 hours of credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 2.0
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 2.0 hours of CLE credit.
     
  • VA CLE 1.5
     
  • This program has been approved by the Virginia Mandatory Continuing Legal Education Board for 1.5 CLE credit hours.
     
  • VT CLE 1.5
     
  • This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
     
  • WV MCLE 2.0
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 2.0 MCLE hours.
     
  • CPE/NASBA - QAS Self Study 2.8 including Specialized Knowledge 2.8
     
  • Lorman Education Services is registered with the National Association of State Boards of Accountancy (NASBA) as a QAS Self Study sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org. For more information regarding administrative policies such as complaint and refund, please contact our offices at 866-352-9539. CPE Credit: Maximum Credit Hours: 2.8 each session (based on a 50 minute credit hour). You must attend at least 50 minutes to obtain credit. Field of Study: Specialized Knowledge for 2.8 hours. Prerequisite: . Level of Knowledge: Intermediate. Teaching Method: Seminar/Lecture. Advance Preparation: None. Delivery Method: QAS Self Study. Please refer to the information in this advertisement for outline, course content and objectives. Upon completion of this course, you will receive a certificate of attendance. Final approval of a course for CPE credit belongs with each state's regulatory board.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

Virginia MCLE requirements do not allow approval for programs that do not include an audio or audiovisual component.

This program was previously offered as a live webinar. Virginia MCLE requirements do not allow approval for attendance at duplicate programs.

Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Frank Comparetto, III

Frank Comparetto, III

Eversheds Sutherland (US) LLP

  • Associate in the Atlanta office of Eversheds Sutherland
  • Advises multinational clients on domestic and international tax planning and transactional matters, including corporate restructurings, taxable and nontaxable mergers and acquisitions, and related financing
  • Assists clients with complex tax laws and regulations, defending and negotiating for taxpayers in disputes with the Internal Revenue Service and other tax agencies and boards
  • Before joining Eversheds Sutherland, he worked for a Big Four accounting firm, where he focused on domestic and cross-border mergers and acquisitions and advised clients on tax-efficient structuring and tax due diligence
  • Experience includes testing Subchapter S qualifications and counseling corporations on Subpart F income planning, joint ventures, and ownership changes under Code section 382
  • Served as a law clerk for a natural gas and electric company and as an intern for the Thirteenth Judicial Circuit in Hillsborough County, Florida
  • Author of several publications related to his areas of practice
  • LL.M. degree in taxation, University of Florida Levin College of Law; J.D. degree, Board Member, Florida Law Review, University of Florida Levin College of Law; B.A. degree in economics, minor in environmental studies, University of Michigan
  • Can be contacted at [email protected] or 404-853-8031
Margaret R. Pope

Margaret R. Pope

Eversheds Sutherland (US)

  • Associate in the Washington office of Eversheds Sutherland
  • Represents multinational manufacturing, transportation, and commercial corporate clients in connection with the international tax aspects of their cross-border transactions, including mergers and acquisitions, joint ventures, tax credit planning, complex spin-offs, finance company arrangements, and corporate restructurings
  • Offers clients critical analysis concerning Subpart F income planning and advises on currency and hedging transactions in order to align the tax function with clients’ specific business objectives
  • Before joining Eversheds Sutherland, she worked in the international tax group of a Big Four accounting firm
  • Served as a legal intern for the Tax Division Office of Review of the United States Department of Justice and as a legal congressional intern for Congressman Daniel Lungren of the United States House of Representatives
  • Author of several publications related to her areas of practice
  • J.D. degree, cum laude, associate editor, Duquesne Law Review, Duquesne University School of Law; B.S. degree, Miami University
  • Can be contacted at [email protected] or 202-383-0846
Purchase Options

Add to Wishlist

More Program Information

Why Lorman?

Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

  • OnDemand Courses
  • Live Webinars
  • MP3 Downloads
  • Course Manuals
  • Executive Reports
  • White Papers and Articles

Additional benefits include:

  • State Specific Credit Tracker
  • All-Access Pass Course Concierge

Questions? Call 877-296-2169 to speak with a real person.

Sign Up Today
With This Course

Access to all training products for one year
$699/year

Unlimited Lorman Training

With the All-Access Pass there is no guessing what you will need for your yearly training budget. $699 will cover all of your training needs for an entire year!

Easy Registrations

Once you purchase your All-Access Pass you will never be any further than one-click away from attending any Lorman training course.

Invest in Yourself

You haven't gotten to where you are professionally by luck alone; it's taken a lot of hard work and training. Invest in yourself with the All-Access Pass.

Product ID: 407633
Published 2022
Purchase Options

Available in Multiple Formats

Purchase this course and learn on your schedule!