News Updates

We Stay Up-To-Date on Flow-Through Tax News and Precedents So You Don't Have To.

Below you will find recent rulings and updates affecting flow-through taxes and closely-held business structures. If you have any questons on these, or about any updates on other sites, please do not hesitate to reach out to us for further insights.

If you see anything you believe is important to your flow-through peers and collaborators that is not covered below, please share that with us as well. We'd appreciate it.

Come back here often, since we are continully adding to this recource seciton. And to receive these updates directly to your preferred commnuication channel(s), make sure to follow us on LinkedIn or Subscribe to our Updates.

A Few Foot Faults to Avoid When Converting a Flow-Through Entity Into a §1202-Eligible Corporation

05/19/2025
News

We’re avoiding commenting on the pending tax legislation, as the rhetoric by the major tax-reporting publishers is doing just fine and the Senate has not yet weighed in.

05/12/2025
News

If you are advising clients on estate planning strategies involving family limited partnerships (FLPs ), the recent Tax Court decision in Estate of Fields v. Commissioner, TC Memo 2024-90 deserves your attention.

04/21/2025
News

On April 17th, the IRS issued Notice 2025-23 announcing the intent of the IRS and Treasury to remove basis-shifting transactions as transactions of interest that require reporting under Reg. §1.6011-18 and not to issue proposed related-party basis adjustment regulations, as had been announced in Notice 2024-54.

04/18/2025
News

On “Tax Day,” two new developments addressing the §1402(a)(13) limited partner exclusion from SE tax were published. As has been well-chronicled in our email blasts and at our TAX FORUM programs, the eligibility of a partner who provides substantial services to a personal service-type partnership to qualify for the §1402(a)(13) exclusion for allocations of income received with respect to an interest held as a limited partner is, perhaps, the most contentious issue in the partnership arena in decades. (To date, all the cases appear to involve only partners who are providing full-time services to the partnership.)

04/07/2025
News

As Tax Season #2 winds down (March 15th being Tax Season #1), we thought it would be interesting to pass on a compliance issue that was raised with us at the end of last week by one of our TAX FORUM attendees.

04/01/2025
News

Just recently, we were focusing on a §1202 stock eligibility question for a client, and we decided to listen to a §1202 webinar to determine whether the speakers had focused on a particular issue.

1(current)
2
3
4
5
6
»

None of the authors is rendering legal, accounting or other professional advice. If such advice is required, it is strongly recommended that a professional advisor be engaged.