PIP (partners' interests in the partnership) allocations are very commonly used in partnership agreements. 1 For this reason, Investors and managers should understand the basics of PIP allocations and ...

A partnership whose sole asset is all the stock of a corporation offers opportunities but with potential pitfalls.

The IRS said it would issue proposed regulations allowing S corporations and partnerships to deduct “specified income tax payments” paid to state and local governments above the line and not as ...

The Internal Revenue Service has been stepping up its audits of large partnerships lately, but partnerships have some ways to correct errors on the returns they've already filed to help them avoid ...

he claim of right doctrine requires taxpayers who receive disputed income to treat it as taxable income if there are no restrictions on how they can use this money. When there are restrictions—as when ...

Partnerships are an enigma under federal tax law. Although the partnership files an annual income tax return (i.e., Form 1065), the partners report their allocable share of the partnership’s tax items ...

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 ...