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Congress Tweaks Partnership Audit Rules

The Consolidated Appropriations Act, 2018 (“Act”), was signed into law on March 23rd.  The Act contains a number of changes to the partnership audit rules that went into effect for partnerships (including LLCs taxed as...

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Classifying Taxpayer Business Hours

By:  Jim Mauro The Internal Revenue Service has increased its audit activity in the area of deductible losses from real estate investments. A taxpayer who is classified as a “real estate professional” (or “REP”) is...

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Franchisees & Self-Employment Taxes

By: Ralph Levy, Jr.In a recent Chief Counsel Advice (CCA 201640014, issued 9/30/2016), the Office of Chief Counsel (“OCC”) of the Internal Revenue Service found that all of a franchisee’s share of earnings from a partnership...

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Tax Blog is published by Dickinson Wright PLLC to inform the public of important developments within the firm and practice areas. The content is informational only and does not constitute legal or professional advice. We encourage you to consult a Dickinson Wright attorney if you have specific questions or concerns relating to any of the topics covered in this blog.

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