Tag: partnerships

C Corp S Corp Partnership
Business Entity Determination & Key Tax Considerations

Existing businesses should evaluate their choice of entity — especially now, in light of President…

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Partnership Carried Interest Regs
Partnership Tax Consequences of Final Carried Interest Regulations

The IRS and Treasury issued final regulations governing the treatment of carried interests under Internal…

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Accounting Method Changes
Final TCJA Regulations Simplify Small Business Exemptions

This article summarizes some of the key highlights of the final IRS rules regarding simplifying…

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SALT Deduction Cap Does Not Apply to Pass-Throughs
IRS Clarifies That SALT Deduction Cap Does Not Apply to Pass-Through Entities

The IRS announced state and local income taxes will be deductible at the pass-through entity…

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IRS Makes Changes To Tax Capital Reporting Requirements

In a welcome development, the IRS has changed course with regard to partnership capital account…

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Reporting Capital on Schedule K-1
Two Proposed Methods for Reporting Tax Capital on Schedule K-1

IRS proposed two methods for partnerships to satisfy the tax capital reporting requirement for tax…

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Filing Partnership Tax Returns
IRS Provides Welcome Relief for Partnership Filings to Obtain CARES Act Benefits

The CARES Act provides retroactive tax relief that affects partnerships, including relief for the taxable…

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Breaking Down Section 4001 of the CARES Act
CARES Act Signed Into Law to Provide COVID-19 Relief

Key provisions of the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides relief…

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Negative Tax Basis Delayed
Tax Basis Reporting Requirements Delayed

On December 9, 2019, the IRS issued Notice 2019-66, which provides that partnerships required to…

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Smart city and network - connection on city building background, technology concept.
2019 Year-End Tax Planning for Businesses

All businesses seek to reduce costs, and year-end tax planning presents the chance for significant…

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