Sports industry partnerships are now on notice that the Internal Revenue Service (IRS) is initiating specialized, issue-based BBA partnership examinations focusing on their income and deductions....more
In continued efforts to help taxpayers address the challenges brought on by the coronavirus (COVID-19) pandemic, the Internal Revenue Service announced further relief on April 9, including automatically extending deadlines...more
Two days after extending by 90 days the deadline for payment of certain federal income taxes, on March 20, US Secretary of the Treasury Steven Mnuchin announced that the Internal Revenue Service will also extend the deadline...more
3/22/2020
/ Coronavirus/COVID-19 ,
Corporate Taxes ,
Federal Taxes ,
Filing Deadlines ,
Filing Requirements ,
Income Taxes ,
IRS ,
Relief Measures ,
Required Forms ,
Secretary of the Treasury ,
Tax Extensions ,
Tax Returns ,
Time Extensions ,
U.S. Treasury
Recent US tax reform legislation P.L. 115-97, commonly known as the Tax Cuts and Jobs Act, made sweeping changes to when and how a taxpayer will be able to deduct payments made to settle claims of particular acts of...more
All partnerships will be audited at the entity level unless they have 100 or fewer partners AND no partnerships as direct partners.
The two-year budget plan passed by Congress on October 30, 2015, and expected to be...more
11/3/2015
/ Audits ,
Barack Obama ,
Federal Budget ,
Federal Taxes ,
Indemnification ,
IRS ,
New Legislation ,
Participation Agreements ,
Partnership Agreements ,
Partnerships ,
Repeal ,
Tax Deductions ,
Tax Liability ,
TEFRA ,
U.S. Treasury