Thought-provokinganalysis and opinion on federal tax issues

Category Archives: Partners and Partnerships

IRS Corrects Attribution Example in Final 721(c) Regs

February 15, 2020

by Monte A. Jackel

I recently published an article in Tax Notes discussing the final regulations under section 721(c). See link which is behind Tax Notes’ paywall. https://www.taxnotes.com/tax-notes-today-federal/transfer-pricing/complexity-and-confusion-cross-border-partnership-regs-finalized/2020/02/10/2c3xl?highlight=Jackel . In the article, I pointed out that the attribution example in the final regulation preamble was incorrect because there is no concept of indirect ownership through corporations in the final […]

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The Politics of Regulation Drafting

February 1, 2020

by Monte A. Jackel

The attached is a re-print of an article I recently published in Tax Notes on the politics of regulation drafting. I thought this would be of interest. https://jackeltaxlaw.com/wp-content/uploads/2020/01/Jackel-01-20-2020.pdf

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The Effective Date of Section 721(c) Regs

January 17, 2020

by Monte A. Jackel

I wrote a short note on the effective date of the section 721(c) regulations on LinkedIn. I am really not sure of the answer. See attached link. https://www.linkedin.com/in/monte-a-jackel-18921024/detail/recent-activity/shares/

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My LinkedIn Posts For Tax Notes Articles and Stories

January 3, 2020

by Monte A. Jackel

I cannot post my comments to Tax Notes stories and articles here because the Tax Notes stories are behind a pay wall, for those subscribers only. But here is a link to my LinkedIn page where you can find posts of mine dealing with those stories and articles. https://www.linkedin.com/in/monte-a-jackel-18921024/detail/recent-activity/

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Passthroughs and Special Industries Must Spin Off Partnerships As A Separate Division

December 27, 2019

by Monte A. Jackel

I recently read a news story in the tax press about recommended changes to the IRS as part of the mandated report due next October under the Taxpayer First Act, P.L. 116-25. The act mandates a report to Congress relating to potential reorganization changes to the IRS. Although this act is directed at the Internal […]

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Brief Summary Of Ozone Final Regulations Highlights For Partnerships And Partners

December 22, 2019

by Monte A. Jackel

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Tax Court Worthless Partnership Interest Loss Case Fails to Address Several Key Issues

December 11, 2019

by Monte A. Jackel

In MCM Management, the Tax Court, in a memorandum opinion, held that a partnership interest was worthless and generated an ordinary loss based on the facts of the case. Some key takeaways from the case follow: There is no discussion in the case of cancellation of indebtedness income. Since the court held that there was […]

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Guaranteed Payments On Capital As Interest Expense

December 9, 2019

by Monte A. Jackel

The attached outline discusses this https://jackeltaxlaw.com/wp-content/uploads/2019/12/COMMENTARY-ON-INTERACTION-OF-THE-TERM.docxissue.

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Highlights of Recent Foreign Tax Credit Regs and Partnerships

December 5, 2019

by Monte A. Jackel

The recently proposed and final foreign tax credit regulations issued December 2 of this year provides the following key points relating to partnerships and partners. This is a brief summary only to highlight these changes. Further study is required. The final regulations finalize what are known as “downstream loans”, which are loans by partners to […]

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Sun Capital Case Rejects Joint Economics And Favors Separate Formalities In Determining Whether A Partnership In Fact Exists

November 27, 2019

by Monte A. Jackel

The recent Sun Capital case in the First Circuit rejected the holding of the District Court below that two separate entities had formed a deemed partnership in fact due to their joint objectives, cooperation and sharing in joint profits and losses´┐╝. Rather, the First Circuit focused more heavily on the separateness of the two entities […]

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Partnership FAQs Inappropriate

October 31, 2019

by Monte A. Jackel

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