Tax Extension
Every tax form has a required file date but the IRS allows for extensions to this file date. Filing a tax extension changes the file date giving additional time for preparation and filing of a tax form. SPVs file a partnership return of IRS form 1065. The required date is by March 15th of each […]
Taxable Event
Any event or transaction that results in a tax consequence for the party who executes the transaction is considered a taxable event. Common examples of taxable events for an SPV include receiving interest and dividends, selling securities for a gain, and exercising options. Unrealized gains on an investment do not qualify as a taxable event. […]