The IRS wants to argue that the more involved a limited partners is in the day-to-day operations of a business, the more likely they should be subject to self-employment tax. What is a limited partner ...

The Tax Court, consistent with past cases, applied a functional analysis of a limited partnership’s individual partners’ roles and responsibilities to find they could not apply Sec. 1402(a)(13)’s ...

Generally, the IRS imposes taxes on all of a taxpayer's income—whether it's earned as an employee or as a self-employed individual. One significant exception is IRC Section 1402(a)(13), which excludes ...

As the name implies, a limited partner in a partnership is a partner, in contrast to a general partner, who has liability for partnership debts only to the extent of the limited partner's investment ...