In the Headlines
June 7, 2024
IRS Considering Multiple Pieces of Self-Employment Tax Guidance
Tax Notes
Tax attorney Lee Meyercord was quoted in an article by Tax Notes about the Internal Revenue Service's (IRS) plans to issue guidance on the limited partner exception to the self-employment tax under Section 1402(a)(13). The article discussed the IRS' intention to develop comprehensive proposed regulations clarifying the definition of "limited partner" for purposes of the Self-Employment Contributions Act (SECA) tax, as well as the possibility of issuing smaller pieces of guidance addressing specific issues related to the limited partner exclusion. Ms. Meyercord commented on the ongoing debate regarding the scope of the exception.
"You can argue that the statutory language is clear, and we don't have to look at any legislative history, either from 1977 or the 1997 moratorium," she said.
READ: IRS Considering Multiple Pieces of Self-Employment Tax Guidance (Subscription required)
"You can argue that the statutory language is clear, and we don't have to look at any legislative history, either from 1977 or the 1997 moratorium," she said.
READ: IRS Considering Multiple Pieces of Self-Employment Tax Guidance (Subscription required)