A discussion of the tax consequences related to guaranteed payments and transactions between partners and a partnership under IRC § 707.

This article examines the check the box regulations under Treas. Reg. §§ 301.7701-1 through -3 and the tax impact of a change in classification.

The One Big Beautiful Bill, Pub. L. No. 119-21, has introduced several new deductions for American taxpayers. The Internal Revenue Service has prepared new Schedule 1-A to Form 1040 addressing these new deductions.