The recent report titled The Use of Schedule K-1 Data to Address Taxpayer Noncompliance Can Be Improved from the Treasury Inspector General For Tax Administration (TIGTA) has me demoralized. A good ...

Hedge funds may face tax issues of entity structuring, carried interest, management fee waivers, and trading-related rules.

The Service said it will release new proposed regulations and a revenue ruling to challenge the use of basis-shifting transactions used by complex partnerships in moves that could add over $50 billion ...

Please provide your email address to receive an email when new articles are posted on . Our third and final post in the series “Introduction to Taxation of Sales Proceeds” addresses the taxation of ...

The partnership agreement often provides for the allocation of separately stated items of partnership income, gain, loss, deductions and credits among the partners (known as a partner’s distributive ...

Editor’s Note: See Q 8931 to Q for a discussion of the substantial changes to partnership taxation made by the 2017 tax reform legislation. With the exception of certain publicly traded partnerships, ...

On April 27, 2021, the Multistate Tax Commission (MTC) Uniformity Committee voted to accept its Standing Subcommittee’s recommendation to create a work group to study several key issues relating to ...

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...

On June 17, 2025, Senator Ron Wyden introduced two extensive partnership tax reform bills in the Senate (collectively, the “Bills,” and available here and here). The Bills expanded upon and ...

The Internal Revenue Service has been stepping up its audits of large partnerships lately, but partnerships have some ways to correct errors on the returns they've already filed to help them avoid ...

To allow partnerships that may have made errors on their 2018 tax returns a chance to correct those errors, the IRS is granting certain partnerships a chance to file superseding 2018 tax returns (Rev.