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- Title
Good News in a Bad Economy: Service Acquiesces on Pro-Taxpayer Application of Passive Activity Loss Rules to Limited Liability Companies.
- Authors
SULAMI, ORLY
- Abstract
The article discusses purpose, operation and benefits of using passive activity loss rules in Limited Liability Company (LLC) form of business. It also discusses recent legal developments related to it and analyzes implications of recent legal decisions on LLC member's self-employment tax liability. It also provides proposal for reforming passive activity loss rules and treat limited partners and general partners uniformly for tax purposes.
- Subjects
UNITED States; PASSIVE activity losses; PRIVATE companies; SELF-employment tax (Social Security); CORPORATE taxes
- Publication
Tax Lawyer, 2011, Vol 65, Issue 1, p80
- ISSN
0040-005X
- Publication type
Article