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The New Partnership Audit Rules Are Here: Are You Ready? - Construction and Procurement Law News, Q3 2017

The January 1, 2018 effective date of the new federal partnership audit rules is almost here, and we encourage all entities taxed as partnerships to consider addressing the issues posed by these new rules as soon as possible....more

Changes to IRS Partnership and LLC Rules

You may have heard that the IRS’s ability to audit partnerships (including multi-member LLCs) will be greatly enhanced due to changes made by the recent Bipartisan Budget Act of 2015. The IRS will be ramping up its...more

Beware New IRS Partnership/LLC Audit and Assessment Rules

You may have heard that the IRS’s ability to audit partnerships (including multi-member LLCs) will be greatly enhanced due to changes made by the recent Bipartisan Budget Act of 2015. The new rules apply to tax years...more

Beware Increased Worker Classification Audits

As many of you are aware, there has been a marked increase in the emphasis on worker misclassification, not only by the Internal Revenue Service and U.S. Department of Labor (DOL), but by states. The IRS and U.S. DOL have...more

Tips and Traps Regarding the Statute of Limitations and Signing Statute Waivers

As you end your telephone conversation with the revenue examiner, you think to yourself, “Thank goodness, this one is finally over!” The audit of your biggest client started over three years ago, and has seemingly dragged on...more

Worker Classification Litigation on the Rise — An Analysis of the Ninth Circuit’s FedEx Case and Its Lessons for Tax Practitioners

Abraham Lincoln reportedly asked, ‘‘If you call a dog’s tail a leg, how many legs does a dog have?’’ His answer was, ‘‘Four. Calling a dog’s tail a leg does not make it a leg.’’ Similarly, when businesses classify workers,...more

Alabama Legislative Update—Rounding the Corner in the Last Lap: An Update on Pending and Recently Enacted Tax Legislation

The 2014 regular session of the Alabama legislature has been underway for over two months and is nearing its end. The legislature is off this week for Spring Break, then returns on Tuesday, April 1, for three final meeting...more

Mississippi Supreme Court Reverses Court of Appeals in Equifax Case

In a landmark (and somewhat surprising) decision issued June 20, the Mississippi Supreme Court reversed the Mississippi Court of Appeals’ decision in Equifax, Inc. and Equifax Credit Info. Services, Inc. v. Miss. Dep’t of...more

Mississippi Legislature Passes Two Bills that Should Provide Greater Certainty to Businesses and Spur Economic Development

The Mississippi Legislature recently passed two bills that should provide greater certainty to businesses and spur economic development in the Magnolia State. House Bill 892, signed into law by Governor Phil Bryant on March...more

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