News & Insights
Press, Media, & Articles
Tax Notes (August 20, 2019) Kate Kraus talks with Tax Notes about some of the risks involved if a partnership makes a Section 6226 “push out” election or files an administrative adjustment request. Partners generally will not be entitled to refunds; instead, they will effectively receive a nonrefundable credit for the year in which the adjustment is taken into account. If they cannot fully take advantage of this credit in that tax year (e.g., if they have net losses for that year and therefore would not owe any tax even if no credit were available), they will not receive any benefit from the adjustment.
Related Professionals
RELATED SERVICES
News & Insights
View all News & InsightsAllen Matkins Leck Gamble Mallory & Natsis LLP. All Rights Reserved.
This publication is made available by Allen Matkins Leck Gamble Mallory & Natsis LLP for educational purposes only to convey general information and a general understanding of the law, not to provide specific legal advice. By using this website you acknowledge there is no attorney client relationship between you and Allen Matkins Leck Gamble Mallory & Natsis LLP. This publication should not be used as a substitute for competent legal advice from a licensed professional attorney applied to your circumstances. Attorney advertising. Prior results do not guarantee a similar outcome. Full Disclaimer