It’s time to amend the governing documents of flow-through entities taxed as partnerships to address recent federal legislative changes impacting all such entities.  Failure to amend now could result in unfavorable tax consequences.  Section 1101 of The Bipartisan Budget Act of 2015 (the “BBA”) substantially changes how the Internal Revenue Service may conduct audits of

Parties to a construction contract often expressly agree that any disputes shall be resolved through arbitration. Traditionally, construction entities have placed these “arbitration clauses” into their contract under the belief that arbitration would lead to the resolution of a dispute in a manner quicker and cheaper than a state or federal lawsuit. In recent years