• 2015 Year End Tax Changes: What You Need to Know Before Your Bowl (Game)
  • January 7, 2016 | Author: James M. McCarten
  • Law Firm: Burr & Forman LLP - Nashville Office
  • Just in case they might impact your year - end tax planning, Burr's Tax Section has put together the following summary of recent changes to the tax law; changes which consist of making permanent many of the individual and business tax extenders (provisions previously extended year in and year out on a routine basis by Cong ress), changes impacting the taxation of REITs, and changes to tax procedure for partnerships and limited liability companies as well as tax filing and penalty rules. While most of these changes come out of last week's tax agreements, the Protecting Ameri cans from Tax Hikes Act (the "Tax Act"), the important procedural changes regarding partnerships were enacted when the Bipartisan Budget Act of 2015 (P.L. 114 - 74) (the "Budget Act") was signed by the President in November.