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 ...

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 ...

Although many of the procedural rules for auditing partnerships at the federal level have changed under the Bipartisan Budget Act of 2015 (the ...

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 ...

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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.

Partnership taxation has changed dramatically since the 2017 tax reform legislation became effective—and although Section 199A tends to take the spotlight, those changes are much more far-reaching in ...

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 ...