Can any part of a payment, or payments, made to settle a partners' dispute, including the redemption of a recalcitrant partner's interest, provide an ordinary current deduction for the remaining partners?
This year is supposed to be the year that the U.S. economic recovery kicks into high gear. Of course, last year was, too. So was 2013. In fact, the U.S. economy failed to engage any gear other than reverse during the first three months of the year, with gross domestic product (GDP) shrinking 0.7 percent on an annualized basis during that period.
The Treasury Department's warning to corporate America about cutting their tax bills via corporate inversions - reincorporating abroad - has worn off, said Tim Larson, partner-in-charge of international tax services at Marcum LLP.
Lowe’s Home Improvement is entering the competitive Manhattan retail market for the first time this summer with the opening of two new stores, a move that hints at how the chain is remodeling its broader retail strategy to capture growing U.S. urban markets.