The IRS said it would issue proposed regulations allowing S corporations and partnerships to deduct “specified income tax payments” paid to state and local governments above the line and not as ...

The recent report titled The Use of Schedule K-1 Data to Address Taxpayer Noncompliance Can Be Improved from the Treasury Inspector General For Tax Administration (TIGTA) has me demoralized. A good ...

A limited partnership operates similar to a general partnership. In an LP business, there are two or more partners where at least one is considered a general partner and another is a limited partner ...

In less than six months, on January 1, 2018, the new centralized partnership audit rules enacted by Congress as part of the Bipartisan Budget Act of 2015 (“BBA”) will go into effect. The new rules ...

With an estimated 1 million-plus partners under the U.S. tax system, the importance of the Bipartisan Budget Act of 2015’s controversial centralized partnership audit regime cannot be underplayed.

Creating a limited partnership reduces the personal liability to each partner within a business. Establishing a limited partnership also provides opportunities for tax deductions between or among the ...

Likely, either the partnership or limited liability company is the most flexible of entities now available for business- or investment-related ventures. Whether either such entity is a partnership for ...

Many investors hold their interests in funds through nominee arrangements, as do executives using the “assignment route” to receive carried interest (an arrangement involving using a company to hold ...

In this episode of Willis Weighs In, Benjamin M. Willis, Tax Notes Federal contributing editor, discusses carried interests with partnership tax expert Monte A. Jackel. Monte and Ben speculate on what ...

Please provide your email address to receive an email when new articles are posted on . Our third and final post in the series “Introduction to Taxation of Sales Proceeds” addresses the taxation of ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

Rehearing the case en banc, the court determines that an LLC’s faxed and subsequently mailed copy of its late return were not filings that started an adjustment limitation period. But related income ...