Partnerships and S corporations : misreporting income and tax compliance issues / Keith Preston, editor.

Format:

Book

Contributor:

Preston, Keith, editor.

Series:

Business issues, competition and entrepreneurship series.

Business issues, competition and entrepreneurship

Language:

English

Subjects (All):

Partnership--Taxation--United States.

Partnership.

Subchapter S corporations--Taxation--United States.

Subchapter S corporations.

Physical Description:

1 online resource (82 p.)

Place of Publication:

New York : Novinka, [2014]

Language Note:

English

Summary:

Since 1980, partnerships' and S corporations' share of business receipts increased greatly. These entities generally do not pay income taxes. Instead, income or losses (hundreds of billions of dollars annually) flow through to partners and shareholders to include on their income tax returns. GAO has previously reported that the misreporting of income by partners and shareholders poses a tax compliance risk. This book describes what is known about misreporting of flow-through income; assesses how much misreporting IRS identifies; and analyzes possible improvements in IRS's use of data to better

Contents:

""PARTNERSHIPS AND S CORPORATIONS: MISREPORTING INCOME AND TAX COMPLIANCE ISSUES""; ""PARTNERSHIPS AND S CORPORATIONS: MISREPORTING INCOME AND TAX COMPLIANCE ISSUES""; ""Library of Congress Cataloging-in-Publication Data""; ""CONTENTS""; ""PREFACE""; ""Chapter 1: PARTNERSHIPS AND S CORPORATIONS: IRS NEEDS TO IMPROVE INFORMATION TO ADDRESS TAX NONCOMPLIANCE""; ""WHY GAO DID THIS STUDY""; ""WHAT GAO RECOMMENDS""; ""WHAT GAO FOUND""; ""ABBREVIATIONS""; ""BACKGROUND""

""DUE TO UNDETECTED MISREPORTING, INCOMPLETE COMPLIANCE DATA, AND DOUBLE COUNTING OF INCOME WITHIN NETWORKS, THE FULL EXTENT OF PARTNERSHIP AND S CORPORATION INCOME MISREPORTING IS UNKNOWN""""IRS IDENTIFIED A RELATIVELY SMALL PERCENTAGE OF ESTIMATED MISREPORTED INCOME THROUGH EXAMINATIONS AND K-1MATCHING AND LACKS RELIABLE INFORMATION ON EXAMINATION RESULTS""; ""OPTIONS FOR IRS TO IMPROVE IDENTIFICATION OF PARTNERSHIPS AND S CORPORATIONS TO CONSIDER EXAMINING INVOLVE CHALLENGES, SOME OF WHICH COULD BE MITIGATED""; ""CONCLUSION""; ""MATTER FOR CONGRESSIONAL CONSIDERATION""

""RECOMMENDATIONS FOR EXECUTIVE ACTION""""AGENCY COMMENTS AND OUR EVALUATION""; ""APPENDIX I. OBJECTIVES, SCOPE, AND METHODOLOGY""; ""APPENDIX II.MULTITIERED NETWORKS OF PARTNERSHIPS AND S CORPORATIONS""; ""APPENDIX III. ADDITIONAL INFORMATION ABOUT MISREPORTING ""; ""APPENDIX IV. ADDITIONAL INFORMATION ABOUTK-1MATCHING""; ""Chapter 2: WHO EARNS PASS-THROUGH BUSINESS INCOME? AN ANALYSIS OF INDIVIDUAL TAX RETURN DATA""; ""SUMMARY""; ""INTRODUCTION""; ""PROPOSED AND SCHEDULED TAX CHANGES""; ""WHO EARNS PASS-THROUGH BUSINESS INCOME?""; ""WHO WOULD BEAR THE TAX BURDEN?""

""POLICY CONCERNS AND OPTIONS""""CONCLUSION""; ""APPENDIX. DETAILED DISTRIBUTIONS""; ""INDEX""

Notes:

Description based upon print version of record.

Description based on online resource; title from PDF title page (ebrary, viewed November 11, 2014).

ISBN:

1-63463-155-2

OCLC:

894666711