Tag: partnerships

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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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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Partnership Disclosure Requirements for 2019 Filings

On September 30, 2019, the Internal Revenue Service (IRS) posted copies on its website of…

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New Partnership Reporting Requirement: Negative Tax Basis Capital Account Information

The IRS now requires partnerships to report each partner’s tax basis capital on their respective…

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Treasury Notice: Proposed GILTI Regulations for Domestic Partnerships And S Corporations

On August 22, 2019, the Department of the Treasury and the Internal Revenue Service (collectively,…

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2018 Year-End Tax Planning for Businesses

Businesses of all sizes, across all industries, have been impacted by the monumental changes to…

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