Legal Services - Washington, District of Columbia, United States
In November, 2015, Congress repealed TEFRA and enacted an entirely new statutory regime covering examination, litigation, and payment of taxes for partnerships and entities taxed as partnerships. This page is managed by Caplin & Drysdale personnel. For more information, please email info@partnershiprepresentative.com."Partnership Representative" will be the new designated liaison between partnerships/limited liability companies and the Internal Revenue Service. The partnership representative has broader authority to handle matters before the IRS, including managing and settling tax disputes, litigating in the U.S. Tax Court or U.S. district courts, payment of additional taxes owed, and filing refund claims.Caplin & Drysdale provides two primary services: (1) review of current partnership agreements and LLC operating agreements to ensure compliance with the Bipartisan Budget Act of 2015 and (2) counsel to the partnership representative of partnerships and LLCs.For those seeking information, this page will be a resource with articles, programs, and insights on how to address the new provisions of the Bipartisan Budget Act of 2015. In light of this impending legislation, partnerships and partners should now evaluate the current provisions of their partnership agreements and make fundamental changes to the tax procedure provisions. Doing so now will help to reduce and manage the partnership's potential tax obligations and administrative costs and define the rights and responsibilities of partners, the partnership, and the partnership representative.Attorney AdvertisingIt is possible that under the laws, rules, or regulations of certain jurisdictions, this may be construed as an advertisement or solicitation.
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