Tax education articles and IRS representation advice for individuals and small businesses

Why Good Partnership Agreements Do Not Prevent IRS Problems

Steve Perry

Published on: 20/08/2026

A signed partnership agreement does not control IRS procedure. Steve Perry, EA explains why the partnership representative designation, not the agreement, binds the partnership with the IRS.

Tax education articles and IRS representation advice for individuals and small businesses

Guaranteed Payments, Distributions, and Draws: Avoiding Common Partnership Errors

Steve Perry

Published on: 19/08/2026

Guaranteed payments, distributions, and draws follow different tax rules. Misclassifying them can trigger self-employment tax, taxable gain, or underpayment penalties partners do not expect.

Tax education articles and IRS representation advice for individuals and small businesses

Partnership Tax Problems That Turn Into Expensive IRS Notices

Steve Perry

Published on: 18/08/2026

Partnership tax risk continues after Form 1065 is filed. See how IRS matching, audit rules, and notice deadlines affect partnerships and partners year-round.

Tax education articles and IRS representation advice for individuals and small businesses

Shareholder Distributions vs. Payroll: Understanding the Difference Before the IRS Does

Steve Perry

Published on: 13/08/2026

Wages and distributions follow different tax rules. Learn why the IRS looks at substance over labels and how uncategorized withdrawals create payroll and basis risk.

Tax education articles and IRS representation advice for individuals and small businesses