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Partnerships Bipartisan Budget Act K-1

Latham & Watkins LLP

IRS Launches New Large Partnership Audits, Relying on AI and Increased Funding

Latham & Watkins LLP on

The IRS is making good on its promise to step up enforcement on large partnerships that issue more than 100 annual K-1s and have more than $100 million in assets. As noted in this Latham Client Alert, the IRS’s renewed focus...more

McGlinchey Stafford

CARES Act Updates Tax Act’s Depreciation Period – Act Fast

McGlinchey Stafford on

Before the enactment of the 2017 Tax Cuts and Jobs Act (TCJA), qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property had a 15-year recovery period for depreciation...more

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