Tax


Starting Jan. 1, IRS Can Collect Tax Deficiencies Directly from Partnerships
December 5, 2017 | Katherine A. Heptig
A new audit regime, effective January 1, potentially shifts tax liabilities among partners. Starting in 2018, the IRS will be authorized to collect tax deficiencies directly from a partnership (including LLCs taxed as partnerships). This will result in current partners bearing tax liabilities relating to prior taxable years, even though the partnership may now have …
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