Tag: partnerships
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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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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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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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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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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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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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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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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Partnership Recourse Liabilities and Disguised Sale Regulations
The IRS has released final regulations providing guidance for a partnership to allocate its liabilities…
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