The last several months have brought profound changes in the tax law, and additionally, the new IRS partnership audit rules are now in effect. In light of these developments, in addition to understanding the meaning of the new rules, there is a great need for partnerships to maintain and track information for themselves, as well as for their partners’ compliance and reporting.
This webcast will telescope into recent proposed regulations addressing the treatment tax attributes, such as capital accounts and basis, and recent legislation concerning interest limitations, the 3-year holding period for certain carried interest situations, and new section 199A, for the purpose of discussing important information tracking and reporting implications that need to be understood to comply with the rules.
- Explain the general application of the new interest limitation rules of section 163(j) to partnerships and the implications on capital and basis
- Identify information reporting and maintenance issues relating to new section 199A as well as planning opportunities
- Arrange and apply information so that we may maintain and track items to be able to ascertain whether and how the new 3-year holding period rule in section 1061 applies with regard to a particular partner
- Analyze the impact of the new IRS proposed regulations on the IRS audit rules and tax attributes
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Please note: CPE credits are not awarded for webcast replay.
Recommended Field of Study:
General understanding of tax reform
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