Two or more individuals launch a partnership, which is a form of business organization. Partnerships may change upon the death or withdrawal of one of the partners or the admission of a new partner.

The Tax Court addressed the proper treatment of an accounting firm’s distributions of “client-based” intangible assets, the capital accounting rules of Regs. Sec. 1.704-1(b)(2)(iv), and the tests for ...

The Internal Revenue Service released an early draft Thursday of the instructions for Form 1065, U.S. Return of Partnership Income, with newly revised directions for how partnerships should report on ...