Includes CARES Act changes! This discussion of C Corporations provides guidance on tax operating characteristics of the C Corporation including accounting methods, choice of year-end, c corporation capital losses, net operating losses and a summary of consolidated return rules. Our discussion of C Corporate reasonable compensation also includes an analysis of constructive dividend problems and concludes with a review of such problem issues as personal holding companies (PHC), personal service companies (PSC), and the accumulated earnings tax (AET).