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Volume 54, Number 2 February 2023

TAX CLINIC

Marrying ESG initiatives to
business tax planning .................... 7
Early access to wages may
require new employment tax
analyses ........................................ 9

Determining gross receipts
under Sec. 165(g)(3) .................... 12
Issues in allocating income
under Sec. 384 ............................ 14
Recent changes to the
Sec. 179D energy-efficient
commercial buildings deduction .... 17
IRS provides guidance on
perfecting S elections and
QSub elections ............................ 20
The ‘one class of stock’
requirement: An interesting
letter ruling ................................... 22
Significant state conformity
issues for corporate taxpayers .... 24

DEPARTMENTS

TAX PRACTICE
RESPONSIBILITIES ...................... 42

CAMPUS TO CLIENTS ................. 46
28 Current developments in partners and CASE STUDY ................................ 50
partnerships TAX TRENDS ................................. 54
By Hughlene A. Burton

This article reviews and analyzes recent rulings and guidance involving partnerships.
The discussion covers developments in the taxation of partnerships and partners, Tax News
debt and income allocations, distributions, and basis adjustments.
For the latest tax news, visit
TheTaxAdviser.com.
On the cover: Image by jayk7/Getty Images; above: Image by Andrii Yalanskyi/Getty Images

2 February 2023 The Tax Adviser