Partnerships and S Corporations: Misreporting Income and Tax Compliance Issues

Keith Preston (Editor)

Series: Business Issues, Competition and Entrepreneurship
BISAC: BUS064010



Volume 10

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Special issue: Resilience in breaking the cycle of children’s environmental health disparities
Edited by I Leslie Rubin, Robert J Geller, Abby Mutic, Benjamin A Gitterman, Nathan Mutic, Wayne Garfinkel, Claire D Coles, Kurt Martinuzzi, and Joav Merrick


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Since 1980, partnerships’ and S corporations’ share of business receipts increased greatly. These entities generally do not pay income taxes. Instead, income or losses (hundreds of billions of dollars annually) flow through to partners and shareholders to include on their income tax returns. GAO has previously reported that the misreporting of income by partners and shareholders poses a tax compliance risk.

This book describes what is known about misreporting of flow-through income; assesses how much misreporting IRS identifies; and analyzes possible improvements in IRS’s use of data to better identify partnerships and S corporations to consider examining. This book also analyzes individual tax return data to determine who earns pass-through business income and bears the burden of taxes on that income. (Imprint: Novinka)


Chapter 1 - Partnerships and S Corporations: IRS Needs to Improve Information to Address Tax Noncompliance (pp. 1-50)
United States Government Accountability Office

Chapter 2 - Who Earns Pass-Through Business Income? An Analysis of Individual Tax Return Data (pp. 51-66)
Mark P. Keightley


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