Two or more individuals launch a partnership, which is a form of business organization. Partnerships may change upon the death or withdrawal of one of the partners or the admission of a new partner.

They say that two heads are better than one, and that's how partnerships came to be. Whether you're a doctor looking for a peer to take on more patients, a lawyer who wants to branch out into ...

The Tax Court addressed the proper treatment of an accounting firm’s distributions of “client-based” intangible assets, the capital accounting rules of Regs. Sec. 1.704-1(b)(2)(iv), and the tests for ...

The IRS provided transition penalty relief Tuesday to partnerships in complying with new rules for reporting partners’ capital account balances. As it explained in the notices and news release, the ...