It’s not looking good in the House, as Speaker McCarthy has struggled to bring certain members of the majority into line, while more moderate members of his party have displayed a willingness to reach ...

The partnership distribution rules create disparities between inside and outside basis in two common situations: (1) when the distributee partner recognizes gain or loss[8] on a distribution and (2) ...

Last month, the agency revised the draft 7217 with the title "Partner's Report of Property Distributed by a Partnership." This is a new form for distributions to partners during tax year 2024. The ...

The IRS and Treasury have now finalized regulations that require partnerships to disclose information about certain transactions involving distributions and transfers of partnership interests and ...