SPONSORED: Reduce Your Federal Tax with New Arkansas Tax Rules
A new piece of Arkansas legislation aims to provide relief for taxpayers from the $10,000 cap on federal deductions for state and local taxes.
Source: arkansasbusiness.com
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IRS releases reporting guidance for partnership interests held in connection with the performance of services
IR-2021-215, November 3, 2021 — The Internal Revenue Service today posted detailed reporting directions for certain passthrough entities and taxpayers reporting of partnership interests held in connection with the performance of services, often referred to as “carried interests,” in the form of frequently asked questions (FAQs).
Source: irs.gov
IRS details reporting guidance on carried interest at partnerships
The Internal Revenue Service provided detailed reporting directions Wednesday for certain passthrough entities and taxpayers reporting partnership interests held in connection with the performance of services, often referred to as “carried interest.”
Source: accountingtoday.com