Tag Archive: "Extension"
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Extending but Still Filing Before the Original Due Date
As a refresher with the upcoming filing due dates approaching, the Bipartisan Budget Act (BBA) partnership audit rules, which affect all partnerships except those that make an annual election out, significantly changes the way partnership tax returns can be adjusted after filing. Under these rules, partnerships are barred from using an amended Form 1065 and […]
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Proposed Opportunity Zone Legislation Seeks to Extend and Expand the Program
Last week, Congress introduced bipartisan legislation to enhance the Opportunity Zone (OZ) tax incentive. This legislation, known as the Opportunity Zones Transparency, Extension, and Improvement Act, will provide welcomed changes to the OZ program in several key areas. Although still in proposed form, the legislation would add several provisions to the OZ program, including the […]