The Internal Revenue Service is ramping up its scrutiny of large partnerships, leveraging increased funding under the Inflation Reduction Act of 2022. Last year, the IRS announced a restructured ...

The Internal Revenue Service has been steadily ramping up its enforcement of partnership tax compliance. The Bipartisan Budget Act of 2015 streamlined the framework for auditing of partnership tax ...

In recent years, the IRS has focused its attention and resources on large partnerships. In 2021, the agency launched an initial phase of its Large Partnership Compliance (LPC) program. Under this ...

Discover how IRS Form 1065 helps partnerships report income and deductions. Learn how it’s crucial for completing partners’ tax returns with Schedule K-1 allocations.

The Internal Revenue Service plans to audit 75 large partnerships, including real estate specialists and hedge funds, though the agency hasn't yet named the companies involved, The Wall Street Journal ...

"Because I represent taxpayers examined by the IRS, I have a compelling need to understand how the IRS plans to impose on my clients so that I can effectively advise them and protect their rights," ...

IRS Commissioner Danny Werfel gave us a glimpse of what was coming last month when he suggested that taxpayers would see more changes at the agency. This week, he offered more details, announcing a ...