Understanding Partnership Taxation—PTE Elections, 754 Elections, & Selling a Partnership Interest

Deborah A. Phillips, CPA, MST, operates her own tax controversy practice where she specializes in partnership and S Corporation tax law as well as IRS audits and procedures. She works with various CPA firms during tax season preparing all types of tax returns. In addition, she utilizes her forensic accounting skills for tax preparation of clients involved in potential IRS criminal prosecution. Phillips recently retired from the Large Business and International Division (LB&I) of the Internal Revenue Service (IRS), where she was a senior manager in the Flow Through Issue Practice Group (IPG). The IPG specializes in S Corporation and partnership tax issues for LB&I. Phillips worked for the IRS for over 31 years and she has extensive accounting and taxation knowledge of individual, corporate, and partnership federal tax returns. She was the operations and technical assistant to the deputy commission international, the technical assistant to the director of PFTG, a territory manager in the Retail, Food and Pharmaceuticals Industry, a team manager in the Heavy Manufacturing Industry, and the IRC Section 263A technical advisor. Phillips taught graduate and undergraduate courses in accounting and taxation as an adjunct faculty member at Delaware State University, Wilmington College and Goldey-Beacom College. She has been a seminar presenter for over 17 years as well as a textbook author. In 2015, she received the Surgent Outstanding Discussion Leader Award because of her consistently high evaluations for knowledge and presentation skills.