Correcting Partnership Returns After the Centralized Partnership Audit Regime
Feature Article

Correcting Partnership Returns After the Centralized Partnership Audit Regime

Practitioners who make or find errors on a filed Form 1065 for their partnership clients may find themselves in for a bit of a shock when it comes to correcting those errors. Congress passed the Bipartisan Budget Act (BBA) of ... David Woods, EA

The Desirable (Yet Complex) Real Estate Professional Classification
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The Desirable (Yet Complex) Real Estate Professional Classification

Being a real estate professional has its tax advantages, And the average landlord does not want to pass it up. But misusing the classification can unravel expected tax consequences. Investing in rental real estate can be a l... Thomas J. Williams, EA, and Iris K. Palma, JD

Excluding Medicare Waiver Payments from Income
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Excluding Medicare Waiver Payments from Income

The Internal Revenue Service (IRS) has provided guidance on the tax treatment of certain payments to individual care providers for the care of eligible individuals under a state Medicaid waiver program in IRS Notice 2014-7.i The prog... Laurie W. Ziegler, EA

Anti-Money Laundering: A Primer
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Anti-Money Laundering: A Primer

The Problem Despite the prevalence of credit and debit cards, Cash App, and Venmo, cash still is, in many circles, king (or queen). As of November 11, 2020, there was US$2.01 trillion in circulation.Ellie Nava-Jones, EA

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