I thought about this blog a long time. I wanted to create a medium for analyzing issues I’ve encountered in practice, and to share my views with an audience. I’d also like for this blog to be a medium for others to share their thoughts as well.

This blog covers business and tax issues arising in forming, operating, reorganizing, and dissolving unincorporated business entities, principally partnerships and LLCs.

Of all matters facing those who practice in the unincorporated business world, few are as frustrating as  witnessing the US Congress weaken and vilify the Internal Revenue Service. The IRS plays a very important role for those of us attempting to help business people plan business transactions. The IRS personnel generally take that role very seriously. They are mostly talented people who work hard to get to the right policy result.

Sadly, morale at IRS is low. With morale so low, it is hard for IRS to attract and retain really talented people. And the people remaining at IRS have limited resources to do good work. The result:  business owners, their lawyers and accountants don’t have clear guidance on regularly encountered tax issues. Business people also must wait a long time to resolve disputes/claims with IRS.

Hopefully, IRS will be allowed to do its job with adequate funding soon. As practitioners and business people, we have an interest in advocating that result to US Representatives and Senators. If enough of us do, maybe IRS will be funded, and maybe the IRS Commissioner will have time to spend on productive administrative matters.

 

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