Following are highlights of the proposed regulations:
Partnership rules have become increasingly complex over the past few years. The rules under IRC Section 1061, including reporting and recordkeeping, add further complexity and burden for partnerships and their owners. Taxpayers should work with their tax advisers to identify planning opportunities to mitigate the cost of complying with these new rules.
News and analysis on presidential candidates' proposals from our tax policy specialists.
Tax planning: 2020 year-end guide
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