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Master limited partnerships (MLPs) are a kind of limited partnership that is publicly traded. MLPs are a useful legal structure in a few industries such as energy, and they often pay big distributions ...

In today’s litigious society, safeguarding your wealth has never been more important. For high-net-worth individuals, business owners and anyone with substantial assets, protecting those assets from ...

The IRS wants to argue that the more involved a limited partners is in the day-to-day operations of a business, the more likely they should be subject to self-employment tax. What is a limited partner ...

As the name implies, a limited partner in a partnership is a partner, in contrast to a general partner, who has liability for partnership debts only to the extent of the limited partner's investment ...

The Fifth Circuit vacated and remanded a Tax Court decision, holding that the limited partner exception from net earnings from self-employment under Sec. 1402(a)(13) applies to a partner in a limited ...

On January 16, 2026, the Fifth Circuit decided Sirius Solutions, L.L.L.P. v. Commissioner, which vacated a prior decision of the Tax Court that had denied limited partners in a state law limited ...