KPMG report - Partnership and S corporation tax reform discussion draft 

March 13:   House Ways and Means Committee Chairman Dave Camp (R-MI) yesterday released a “discussion draft” of small-business and passthrough entity tax reform as part of the committee’s broader tax reform efforts.

The proposal would substantially change the federal tax treatment of partnerships and S corporations—it does not specifically address real estate investment trusts (REITs), regulated investment companies, or real estate mortgage investment conduits.


The discussion draft includes two options “designed to achieve greater uniformity between S corporations and partnerships.”


  • The first option contains proposals that are modifications to the current regimes for partnerships and S corporations.
  • The second option is significantly more ambitious; it would replace the current rules for partnerships and S corporations with a single unified regime.

Read a March 2013 report [PDF 125 KB] from KPMG LLP discussing how the draft presents reform options for the treatment of S corporations and partnerships: KPMG’s What’s News in Tax: Partnership and S Corporation Tax Reform Discussion Draft Released




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