Tax years of partnerships and corporations
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Tax years of partnerships and corporations

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Published by Library of Congress, Congressional Research Service, Major Issues System in [Washington, D.C.] .
Written in English

Subjects:

  • Tax accounting -- Law and legislation -- United States,
  • Subchapter S corporations -- Taxation -- United States -- Accounting,
  • Partnership -- Taxation -- United States -- Accounting,
  • Professional corporations -- Taxation -- Law and legislation -- United States,
  • Fiscal year -- Law and legislation -- United States

Book details:

Edition Notes

Statementby Jack Taylor
SeriesIssue brief -- order code IB88002, Issue brief (Library of Congress. Major Issues System) -- no. IB88002, Major studies and issue briefs of the Congressional Research Service -- 1987-88, reel 13, fr. 01179
ContributionsLibrary of Congress. Major Issues System
The Physical Object
FormatMicroform
Pagination7 p.
ID Numbers
Open LibraryOL15456706M

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  You must figure your taxable income on the basis of a tax year. A “tax year” is an annual accounting period for keeping records and reporting income and expenses. An annual accounting period does not include a short tax year. The tax years you can use are: Calendar year - 12 consecutive months beginning January 1 and ending December South-Western Federal Taxation Corporations, Partnerships, Estates and Trusts (with Intuit ProConnect Tax Online & RIA Checkpoint, 1 term (6 months) Printed Access Card) [Raabe, William A., Hoffman, William H., Young, James C., Nellen, Annette, Maloney, David M.] on *FREE* shipping on qualifying offers. South-Western Federal Taxation Corporations, Partnerships /5(7). PPC's Tax Planning Guide — S Corporations explains the tax consequences of electing and maintaining S status, operating the S corporation, and terminating the S election. It covers other tax issues, too, such as reorganizing the corporation, maintaining a QSub subsidiary, redeeming S .   By contrast, in , the IRS audited nearly all of them. Only percent of partnerships or S-corporations were audited in , half the share in Of $3 trillion in net tax collections, 90 percent came from individual and self-employment taxes while only 7 percent came from corporations, the lowest corporate share since at least

  They followed up with postponing until July 15 the filing & payment deadlines for individuals & businesses for: returns ” This appears to include S corporations & partnerships. I thought I read that the feds also moved 3/15 the filing date, i.e., .   The following is a modified excerpt from my book LLC vs. S-Corp vs. C-Corp Explained in Pages or Less. Partnerships themselves are not actually subject to Federal income tax. Instead, they — like sole proprietorships — are pass-through entities. Corporations and partnerships face different tax treatment relating to owners who work for the company. The IRS considers partners who work for a partnership to be self-employed and not employees of the business. Any compensation a partner takes for services rendered to the partnership is treated as an advance against profits. Corporations and Partnerships in Virginia examines specific transactions and events in the life of a corporation or partnership, including the purchase and sale of a business, merger, dissension and deadlock, dissolution, and conversion. It also covers topics such as taxation, securities regulation, and director and officer liability.