Partnerships don’t pay federal tax; income, losses, and credits pass to partners, who report them. Learn more about partnership taxes here. Do you have a great business idea, but you’re not sure you ...

Partnerships are not subject to income tax at the entity level. Instead, they operate as pass-through entities, meaning the ...

The U.S. Department of the Treasury (the “Treasury”) and the Internal Revenue Service (the “IRS”) published final regulations on January 14, 2025 (the “Regulations”) requiring taxpayers and their ...

A partnership is the fastest-growing form of operating a business in America. Partnerships offer much flexibility in tax reporting. The most significant element of this flexibility is the partners’ ...

An overview of the US federal income tax rules that apply to partnership divisions, including guidance on determining whether a transaction is treated as a partnership division, the tax form of a ...

Partnerships (which, for the purpose of this article, include limited liability companies treated as partnerships for tax purposes) have long been considered a flexible way of structuring investment ...

The partnership distribution rules create disparities between inside and outside basis in two common situations: (1) when the distributee partner recognizes gain or loss[8] on a distribution and (2) ...

Final regulations now identify certain partnership related-party "basis shifting" transactions as "transactions of interest" subject to the rules for reportable transactions. The final regs apply to ...