Reporting & Filing Requirements
The IRS issued proposed regulations addressing how partnerships and their partners adjust tax attributes to take into account partnership adjustments under the new centralized partnership audit regime.
This article reviews and analyzes recent law changes as
well as rulings and decisions involving partnerships.
The IRS finalized the rules for determining whether partnerships are eligible to elect out of the centralized audit procedures enacted in 2015, which apply to partnerships this year.
This column, the first of two parts, discusses issues states must consider and steps some have taken to align partnership audit rules with new federal rules.
Chief Counsel Advice was issued regarding who is ultimately liable for payment of employment taxes when using a professional employment organization.
The IRS reissued proposed regulations governing the centralized audit rules, which assess and collect tax at the partnership level.
Where there are no adjustments to partnership items, a taxpayer could not hide behind the Sec. 6230(a)(2)(A)(i) exclusion.
The IRS reissued proposed regulations governing the centralized audit rules, which assess and collect tax at the partnership level.
Clients who wish to have income from services be treated as income of their corporations should have revise independent contractor agreements so that payments are made to their corporations.
Income earned by financial adviser was his, not the income of his wholly owned S corporation, and was therefore subject to self-employment tax.
The AICPA Task Force is developing a position paper with possible approaches that state CPA societies may want to consider in working with state
legislatures and tax authorities in developing compliance policies.
This article reviews and analyzes recent law changes as well as rulings and decisions involving partnerships.
The IRS released a package of proposed provisions that will apply to the recently enacted centralized audit regime that generally assesses and collects tax at the partnership level.
Changes in the the Bipartisan Budget Act of 2015 are a departure from how partnerships have been treated for federal income tax purposes.
The IRS issued rules regarding the time, manner, and form for partnerships to make the election to apply the recently enacted unified partnership audit rules for certain years before Jan. 1, 2018.
The changes affect not only procedural rules and technicalities, but also the underlying economic valuation of partnership interests and legal rights of partners as well.
The IRS issued rules regarding the time, manner, and form for partnerships to make the election to apply the recently enacted unified partnership audit rules for certain years before Jan. 1, 2018.
This article analyzes new rules regarding the audit procedures for partnerships and describes important elections partnerships may make.
The IRS requested comments on several issues to assist it in issuing regulations to implement the new rules for partnership audits that were passed by Congress last year to replace the long-standing TEFRA audit regime.
This article discusses developments in income allocations, disguised sales, partnership distributions, terminations, and basis adjustments.
