Current Federal Tax Developments

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2024-11-18 End of Partnership Suspense Account at the IRS

This week we look at:

  • IRS may stop putting “taxpayer may rely” statements on proposed regulations

  • Tax Court rules partnership basis calculations are cumulative in nature and not stand-alone annual calculations under IRC §705

  • Latest speculations on what will get through Congress in 2025 - if anything

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2024-11-18 End of Partnership Suspense Account at the IRS Edward K. Zollars, CPA (Kaplan Financial Education)

A PDF of this week’s slides and links to supporting documents can be downloaded below:

2024-11-18 Current Federal Tax Developments