The IRS said it would issue proposed regulations allowing S corporations and partnerships to deduct “specified income tax payments” paid to state and local governments above the line and not as ...

March 16, 2026: Tax returns are due for partnerships and S corporations that follow the calendar year. If your business ...

The letter addresses issues regarding the latest draft of the MTC’s white paper on state tax sourcing of partnership income.

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 ...

Likely, either the partnership or limited liability company is the most flexible of entities now available for business- or investment-related ventures. Whether either such entity is a partnership for ...

Creating a limited partnership reduces the personal liability to each partner within a business. Establishing a limited partnership also provides opportunities for tax deductions between or among the ...

Partnership tax controversies are unique animals. Subject to an exception for small partnerships with 10 or less individual partners, partnerships are subject to a specialized set of examination and ...

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Final regulations, issued last week, except certain partnership-related items from the regime and provide alternative rules for their examination by the IRS, as well as provide rules for the ...