Major Changes to Partnership Tax Audits

partnership taxes

Business partnerships and similar entities such as LLCs are “pass-through” entities for income tax purposes, meaning the partnership itself is not taxed, but rather, income to the partnership passes through to each partner who then pays his or her share of the tax.  Likewise, current partnerships are not subject to audit adjustments at the partnership level; instead, adjustments are assessed against individual partners.

This could all change after January 1, 2018. Click to find out how new federal law affects partnership taxes.

One comment on “Major Changes to Partnership Tax Audits

  1. Faye Thompson
    May 29, 2016 at 10:57 pm #

    Thanks for the “scoop”!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: