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On September 1, 2020, as a first step in its stated intention to
increase Partnership audits in 2021, the Internal Revenue Service
added a new section,
BACKGROUND
Before January 1, 2018, when the IRS audited a partnership
(including any entity taxed as a partnership, like the typical
limited liability company), and tax, interest or penalties were
owed, the IRS could only collect from the individual partners. For
small partnerships or LLC s (ten or fewer partners or members),
the IRS had to audit each partner or member, too. For larger
Engineered Tax Services to Host Live Webinar with Industry Experts and Lobbyists on Capitol Hill s Current State
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ETS webinars and webinar series for CPAs, Architects, Business Owners, and Real Estate Investors. WEST PALM BEACH, Fla. (PRWEB) January 08, 2021
Julio Gonzalez, the Founder, and CEO of Engineered Tax Services Inc. (ETS), one of the largest tax engineering firms, specializing in helping their clients better utilize federal, state, and local tax incentives, including 45L credits, research and development (R&D) tax credits, and the Energy Efficient Commercial Building Deduction (Section 179D) continues to demonstrate how ETS has a quick pulse on tax changes and how it affects its clients and the industry.