Harvard University’s tax-exempt status has been questioned by the Trump Administration—with Harvard responding that there is no legal basis for a revocation. The Administration’s action...
Many states are implementing energy benchmarking programs to track and identify energy use in buildings. These programs aim to encourage energy efficiency and reduce greenhouse gas emissions. Check out...
When engaging in M&A discussions, parties should prioritize rigorous confidentiality measures to protect sensitive business information. Our new confidentiality agreement playbook offers valuable insights...
This practice note discusses Institutional Review Boards (IRBs) within the United States, including their purpose, history, and regulatory framework. The note is a valuable resource for advising life sciences...
Do you need guidance on tipped employee requirements under the Fair Labor Standards Act (FLSA)? Read our newly published checklist, Tipped Employees Checklist (FLSA) , for helpful information. Read now...
Learn more about the complex subject of partnership allocations made in partnership agreements. The IRC refers to these allocations as a partner's "distributive share." I.R.C. § 704(a), (b). Except for the basic flow-through nature of partnerships, the ability to allocate flexibly the items of income, gain, loss, deduction, or credit that pass through to the individual partners is perhaps the most desirable tax characteristic of the partnership and LLC entity forms.
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