Tax Geek Tuesday: When Does A Partnership Terminate For Tax Purposes?

Today's Tax Geek Tuesday topic was born out of necessity; in recent years, I have seen a depressing amount of late partnership tax returns because the tax advisor failed to recognize that the partnership had actually terminated for tax purposes. It's an easy mistake to make; in most cases, nothing has happened to terminate the partnership for legal purposes, so the failure to recognize and navigate a complex set of tax rules often leaves the advisor completely unaware that the partnership has in...