What Is A Pass Through Partnership? A pass-through partnership is a business entity with more than one owner that has elected pass-through tax status with the IRS. Pass-through entities do not pay corporate income tax but instead “pass through” profits and losses to owners, who are taxed directly by the Internal Revenue Service. Is an
What Does The Tax Court Do? Congress created the Tax Court as an independent judicial authority for taxpayers disputing certain IRS determinations. The Tax Court’s authority to resolve these disputes is called its jurisdiction. Generally, a taxpayer may file a petition in the Tax Court in response to certain IRS determinations. What is the role
Do I Pay Capital Gains If I Reinvest The Proceeds From Sale? Do I pay capital gains if I reinvest the proceeds from sale? A: Yes. Selling and reinvesting your funds doesn’t make you exempt from tax liability. If you are actively selling and reinvesting, however, you may want to consider long-term investments. The reason