On April 17, 2025, the IRS issued Notice 2025-23, which announced its intent to publish a notice of proposed rulemaking to remove Treasury Regulations Section 1.6011-18 that identifies certain partnership basis adjustment...more
5/21/2025
/ Final Rules ,
Internal Revenue Code (IRC) ,
IRS ,
NPRM ,
Partnerships ,
Proposed Rules ,
Regulatory Agenda ,
Reporting Requirements ,
Tax Basis ,
Tax Planning ,
Taxation ,
U.S. Treasury
On January 10, 2025, the United States Internal Revenue Service (the "IRS") released final regulations (the "Final Regulations") under section 6011 of the Internal Revenue Code of 1986, as amended (the "Code"), that identify...more
On November 29, 2024, the United States Internal Revenue Service (the “IRS”) released final regulations (Final Regulations) relating to the allocation of recourse partnership liabilities under section 752 of the Internal...more
Join Williams Mullen for our hybrid 2025 Winter Tax Forum on Thursday, February 6th. Our speakers, Anna Derewenda, Kyle Wingfield, Kevin Bender, and Patrick Carr will provide an update on the following:
- New Basis...more
1/23/2025
/ Audits ,
Business Taxes ,
Continuing Legal Education ,
Debt Collection ,
Events ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
New Regulations ,
New Rules ,
Partnerships ,
Rollover Equity ,
S-Corporation ,
Tax Basis ,
Tax Liability ,
Tax Planning
On June 20, the U.S. Supreme Court released its opinion in the closely watched case of Moore v. United States. In a 7-2 decision, the court upheld the constitutionality of the mandatory repatriation tax (MRT), also referred...more
6/27/2024
/ Capital Gains ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Moore v US ,
Partnerships ,
Repatriation ,
S-Corporation ,
SCOTUS ,
Shareholders ,
Tax Cuts and Jobs Act ,
Unconstitutional Condition ,
Wealth Tax
On April 8, 2020, the Internal Revenue Service (IRS) released Revenue Procedure 2020-23 (the Revenue Procedure) allowing eligible partnerships subject to the centralized partnership audit regime (CPAR) to amend 2018 and 2019...more