Partnerships

For tax year 2018 filings, the IRS made a drastic change to the Form 1065, U.S. Return of Partnership Income, that went unnoticed by most practitioners.

There is considerable dysfunction in many smaller firms when it comes to management and corporate governance.

Mergers take numerous forms.

The notice delays a requirement for reporting partners’ share of partnership capital.

Unfortunately, almost every firm has a number of partners (usually high-performing partners who are also high-maintenance partners) who either interpret partnership agreement provisions in a way that benefits them in some way or, worse yet, choose to ignore these provisions altogether.

Preber succeeded Mike McGuire, who stepped aside in June and took the title of “CEO emeritus.”

If your firm isn’t actively addressing underperforming partners, you are looking at the world through rose-colored glasses.

A chief accountability officer can improve the functioning of accounting firms.

The service is looking for comments on the proposed forms within 30 days.

The simple answer is no!