Tag: partnerships
Proposal Aims to Reduce Unintended Tax Liability for Certain Partnerships
All partnerships are subject to the BBA effective for tax years beginning after December 31,…
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Tax Issues to Consider When Navigating a SPAC Transaction
In addition to understanding the benefits of using a SPAC, it is important that SPAC…
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Will Congress Close the Carried Interest Loophole?
The Carried Interest Fairness Act of 2021 would seek to tax all carried interest allocations…
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The Self-Employment Tax Exemption May be Ending for Some Limited Partners
The recently published Green Book contains details on changes proposed by the Biden Administration that…
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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 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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