Filing Deadlines, Partnerships, Internal Revenue Code (IRC)

Proposed Rule Modifies Timing of "Hot Asset" Reporting

Holland & Knight LLP on 8/22/2025

Generally, gain or loss on the sale or exchange of a partnership interest is treated as capital gain or loss except to the extent of so-called "hot assets." Gain attributable to hot assets – generally unrealized receivables...more

Have a Partnership? March 15th Deadline Offers a Window of Opportunity

Lowndes on 3/3/2023

Many senior housing properties are owned by limited liability companies or other entities that are taxed as partnerships for federal income tax purposes. The March 15th deadline for filing federal partnership tax returns is...more

Weekly IRS Roundup June 1 – June 5, 2020

McDermott Will & Schulte on 6/9/2020

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of June 1 – June 5, 2020... June 2, 2020: The IRS reminded taxpayers who live and work abroad that...more

FBAR Deadlines Not as Close as You Think: New Tax Bill's Language Points to 2017 as Likely Timetable

Baker Donelson on 8/18/2015

Thank you for your interest in the 5th Annual IRS Hot Topic Seminar held in Jerusalem in July. In continuing our efforts to provide timely and extremely important updates on tax matters affecting U.S. citizens and green card...more

Highway Funding Bill Includes Significant Changes to Tax Rules

Morgan Lewis on 8/10/2015

Unexpected changes in FBAR, corporate and partnership returns, and statute of limitations and mortgage reporting tax rules are embedded in funding bill H.R. 3236. When US President Barack Obama extended funding for...more

New Tax Filing Deadlines for Partnerships and Corporations

Lowndes on 8/5/2015

Last Friday, President Obama signed into law a bill that provides temporary funding for the highway trust fund. Buried in the law are several permanent changes to the tax code that are unexpected. Specifically, the deadline...more