TAX2615. Pass-Through Entity Update

This session provides a timely update on recent tax law, regulatory, and administrative developments affecting passthrough entities, including partnerships, S corporations, and LLCs taxed as partnerships. The program focuses on changes impacting tax compliance, partner and shareholder reporting, and planning considerations for closely held businesses and real estate entities. Topics include federal and state updates, evolving interpretations from the IRS and courts, and emerging planning strategies and risk areas relevant to advisers working with passthrough structures. Emphasis is placed on practical application and identifying areas where recent developments may affect filing positions, reporting obligations, and tax planning opportunities.

Learning Objectives:

• Identify and summarize recent federal and state tax developments affecting passthrough entities, including changes impacting compliance, reporting, and entity‑level elections.
• Analyze how recent guidance and enforcement trends influence planning opportunities and risk management for partnerships and S corporations, particularly in closely held and real estate structures
• Apply current developments to real‑world passthrough entity scenarios to evaluate their impact on owners, including considerations related to income characterization, deductions, basis, and state‑level taxation.