Fast Track Settlement Procedures for the Self-Employed

The IRS has long had a fast track settlement program for large and mid-sized businesses to resolve outstanding legal and factual issues in contention through mediation. The IRS had started a similar program for small businesses and self-employed individuals and, over...
LLC Member-Managers Subject to Self-Employment Tax

LLC Member-Managers Subject to Self-Employment Tax

General partners are subject to self-employment tax on their distributive share of partnership interest (Code Sec. 1402(b)). In contrast, limited partners are not subject to self-employment tax on their distributive share (Code Sec. 1402(a)(13); they only pay...