Determining a partnership required tax year


Discuss to the following :

The calendar year is the required tax year for a partnership whose partners are all individuals with a calendar year end ?

In determining a partnership's required tax year, the majority interest rule is applied first, followed by the principal partners rule ?

A partnership wanting to change its year end notifies the IRS of their desire to change by attaching a statement to its first tax return where the new tax year is used.

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Taxation: Determining a partnership required tax year
Reference No:- TGS02109912

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