A consolidated tax return is a filing that combines the financial information of a parent company and its subsidiaries, when they are organized as a group. This approach allows for a more comprehensive and accurate representation of the group's financial standing. It also offers tax benefits and simplifies the filing process. Consolidated tax returns are commonly used by large corporations and can be advantageous for tax planning and strategy. So, if you're considering forming a group of companies, keep this option in mind for potential financial benefits.
