Biden Proposed Changes To Taxation Of Partnerships
Biden Administration proposed limited changes to taxation of partnerships.1. Prevent Basis Shifting by Related Partners, 2. Amend the Bipartisan Budget Act of 2015’s Centralized Partnership Audit Regime. Proposal would be effective date of enactment all open taxable years.
Partnership Audit Regime Biden Administration Prevent Basis Shifting Bipartisan Budget Act Partnership Audit Incorporate Chapters
Source: natlawreview.com