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 ...

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 ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. A partnership agreement (or operating agreement, in the ...

The Internal Revenue Service has been stepping up its audits of large partnerships lately, but partnerships have some ways to correct errors on the returns they've already filed to help them avoid ...

A partnership is one of the entities that is generally required to adopt a particular accounting period as specified under the regulations.1 A partnership’s accounting period is determined by ...

The Internal Revenue Service has been steadily ramping up its enforcement of partnership tax compliance. The Bipartisan Budget Act of 2015 streamlined the framework for auditing of partnership tax ...

Partnerships (which, for the purpose of this article, include limited liability companies treated as partnerships for tax purposes) have long been considered a flexible way of structuring investment ...

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 ...

If you own a small company, you may be considering structuring your business as a limited liability corporation or LLC. LLCs are seen as a favorable entity type by many business owners. The “limited ...

Provides a broad overview of how the Internal Revenue Code taxes corporations and compares it to other forms of doing business (i.e., proprietorships, partnerships, limited liability companies, and S ...