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Section 1061 was added to the Internal Revenue Code as part of the Tax Cuts and Jobs Act (TCJA). For taxable years beginning after December 31, 2017, section 1061 recharacterizes certain net long-term capital gains of a partner that holds one or more applicable partnership interests as short-term capital gains. The provision generally requires that a capital asset be held for more than three years for capital gain allocated with respect to any applicable partnership interest (API) to be treated as long-term capital gain.

The Exempt Organizations Business Master File Extract, or EO BMF, provides information about an?organization?from the Internal Revenue Service¡¯s Business Master File. This is a cumulative file, and the data are the most recent information the IRS has for these organizations.

SOI Tax Stats - Partnership Study Explanation of Selected Terms

April 18, 2023 ¡ª A Florida man and Texas woman have been ordered to prison following their conviction of wire fraud during the COVID-19 pandemic, announced U.S. Attorney Alamdar S. Hamdani.

Aug. 21, 2024 ¡ª James Dougherty of Boise, was sentenced to 41 months in federal prison for wire fraud involving a scheme to defraud an elderly victim of money and real property, U.S. Attorney Josh Hurwit announced today. U.S. District Judge Amanda K. Brailsford also sentenced Dougherty to three years of supervised release to follow his prison term. His wife, Jessica Dougherty, also of Boise, was sentenced to three years of probation for obstruction of justice.

Transactions of Interest

SOI Tax Stats - SOI Bulletin: Summer 2011

Letter 2531 provides information reported on your tax return that doesn¡¯t match information reported to us from third parties.

IR-2024-10, Jan. 12, 2024 ¡ª The Internal Revenue Service announced that IRS Free File Guided Tax Software service is ready for taxpayers to use in advance of the opening of tax season later this month.

August 11, 2022 ¡ª A Butte woman who admitted to stealing more than $600,000 from an elderly and blind woman, now deceased, who was under her care, and spending the money instead on lake property, vehicles, a pontoon boat and other items for herself was sentenced on Aug. 10 to one year and a day in prison, to be followed by three years of supervised release, U.S. Attorney Jesse Laslovich said today.