Likely, either the partnership or limited liability company is the most flexible of entities now available for business- or investment-related ventures. Whether either such entity is a partnership for ...

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 ...

Partnerships are not subject to income tax at the entity level. Instead, they operate as pass-through entities, meaning the partnership’s income, deductions and credits flow directly to the individual ...

On June 17, 2025, Senator Ron Wyden introduced two extensive partnership tax reform bills in the Senate (collectively, the “Bills,” and available here and here). The Bills expanded upon and ...

Taxpayers often use entities characterized as partnerships for federal income tax purposes to conduct their business activities. In addition to offering limited liability (e.g., limited liability ...

The federal income tax laws recognize a partnership as an entity having its own taxable year (within limits) and having its own income and losses. It computes its income much as an individual does.

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 ...

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 ...

Forbes contributors publish independent expert analyses and insights. Matthew Roberts is a tax attorney who covers tax litigation and fraud. In tax cases, sometimes procedure alone wins the day. In SN ...

Filing small business taxes for the first time (or any time, really) can feel daunting, but it doesn't have to totally ruin your month. While the Internal Revenue Service, or IRS, is going to want to ...