Mitigating the Potential Consequences of Partnership Audit Changes

Partnership audit changes present increased exposure to partnerships and their partners, and future legislation may curtail much of the flexibility associated with partnerships.

5 minute read February 01, 2024 at 12:03 AM

Mark L. Lubin

Mitigating the Potential Consequences of Partnership Audit Changes

Partnerships (which, for the purpose of this article, include limited liability companies treated as partnerships for tax purposes) have long been considered a flexible way of structuring investment arrangements and closely held businesses.

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