With the partnership business structure, the company files a Form 1065 tax return for the business, but the individual partners claim business profits and losses on their individual tax returns. Each ...

The IRS provided transition penalty relief Tuesday to partnerships in complying with new rules for reporting partners’ capital account balances. As it explained in the notices and news release, the ...

In their Real Estate Financing column, Ezra Dyckman and Charles Nelson discuss the new 2020 partnership tax basis capital account reporting requirements which "give the IRS much more visibility into ...

Responding to concerns that some partnerships required to report capital account information may be unable to comply, the IRS is postponing the requirement to report partners’ shares of partnership ...