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 ...
Our Federal Tax Group discusses a common but critical partnership operating agreement provision that ensures partners won’t be paying taxes out of their own pockets. The terms of the tax distribution ...
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 ...
<div class="Section1">Current cash distributions (i.e., not in liquidation of a partner’s interest) that are not in excess of the partner’s adjusted basis ...
The events of the past month and rapid increase of interest rates will put further pressure on certain sectors of the economy, including the real estate sector. While it is difficult to predict where ...
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