Partnerships are not subject to income tax at the entity level. Instead, they operate as pass-through entities, meaning the ...

Sometimes a limited liability company, or LLC, has a year with no business activity. For example, a newly formed LLC might not have started doing business yet, or an older LLC might have become ...

The Internal Revenue Service has been stepping up its audits of large partnerships lately, but partnerships have some ways to correct errors on the returns they've already filed to help them avoid ...