Partnerships & S Corporations : Misreporting Income & Tax Compliance Issues
Book Details
Format
Paperback / Softback
ISBN-10
1634631242
ISBN-13
9781634631242
Publisher
Nova Science Publishers Inc
Imprint
Nova Science Publishers Inc
Country of Manufacture
US
Country of Publication
GB
Publication Date
Dec 1st, 2014
Print length
70 Pages
Weight
142 grams
Dimensions
23.40 x 15.40 x 0.80 cms
Product Classification:
TaxationCompany, commercial & competition law
Ksh 15,300.00
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Since 1980, partnerships'' and S corporations'' share of business receipts increased greatly. These entities generally do not pay income taxes. Instead, income or losses (hundreds of billions of dollars annually) flow through to partners and shareholders to include on their income tax returns. GAO has previously reported that the misreporting of income by partners and shareholders poses a tax compliance risk. This book describes what is known about misreporting of flow-through income; assesses how much misreporting IRS identifies; and analyzes possible improvements in IRS''s use of data to better identify partnerships and S corporations to consider examining. This book also analyzes individual tax return data to determine who earns pass-through business income and bears the burden of taxes on that income.
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