The IRS fixes a typo in rules for small businesses to avoid partnership taxes

The IRS is correcting a small error in its proposed rules for certain unincorporated organizations. This correction helps these organizations avoid complex partnership tax rules more easily.

This document is a correction to a proposed rule, not the rule itself. It clarifies administrative requirements for small businesses that want to be treated as something other than a partnership for tax purposes. This matters because partnership tax rules are notoriously complex and expensive to comply with, especially for smaller entities.