Tag: partnerships

partnership tax liability
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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SPACs tax issues
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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carried interest
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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Self-Employment Tax
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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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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