September 15 Is Almost Here — Is Your Partnership Representative in Place?
For many partnerships and investment funds, September 15 is an important tax filing deadline. As tax returns are being finalized, there is one item that should not be overlooked: the designation of the Partnership Representative. Under the federal partnership audit regime established by the Bipartisan Budget Act of 2015, partnerships subject to the regime generally […]
When Was the Last Time You Reviewed Your Registered Agent Fees?
Businesses regularly review the cost of insurance, accounting, technology, banking, and other professional services. Yet registered agent and corporate services are often treated differently. The annual renewal arrives, the invoice gets paid, and very little thought is given to whether the company is still receiving good value. That can be an expensive habit. For businesses […]
U.S. Partnership Representative Services: What Partnerships Need to Know
Foreign partnerships and non-U.S. fund managers with U.S. tax filing obligations face a unique compliance challenge: meeting the IRS requirement to designate a U.S. Partnership Representative with a substantial presence in the United States. Under the centralized partnership audit regime, the Partnership Representative has exclusive authority to act on behalf of the partnership during IRS […]