Authored by RSM US LLP, January 22, 2025
New reporting requirements, detailed information demands and a sharp increase in the IRS’ enforcement efforts are among the issues partnerships face this tax season. Our checklist for tax year 2024 covers the key factors partnerships should consider well before preparing to file, including the use of estimates, the documentation of allocations, special considerations for lower-tier partnerships, and the impact of recent developments and updated forms.
Discuss new federal, state and international filing requirements and obligations up front. This occurs every year, and dealing with these during compliance will slow the process down.
This article was written by John M. Ihne Jr., Jason Lunte, Nick Passini, Dave Schwartz, Alex Bradford and originally appeared on 2025-01-22. Reprinted with permission from RSM US LLP.
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