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On October 5, 2016, the IRS released new temporary and final Section 752 regulations. Sec. 752 of the Internal Revenue Code and related regulations explain how to allocate partnership debt among partners for purposes of calculating the basis of their partnership interests. This...

The question of reasonable compensation is frequently debated in shareholder disputes, divorces and IRS audits. Owners’ compensation is a discretionary expense that controlling owners can alter. It can vary significantly from company to company depending on many factors,...