KPMG article: Partnership tax-related bills introduced by Wyden

KPMG article examines the provisions of two bills introduced by Senate Finance Committee Ranking Member

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July 23, 2025

Senate Finance Committee Ranking Member Ron Wyden (D-OR) on June 17, 2025, released two bills that would significantly alter the partnership tax rules. In particular, Wyden introduced legislation intended “to improve the rules related to partners and partnerships” (S. 2095; the Wyden 2025 Partnership Act), alongside a second piece of legislation creating special rules for related-party basis-shifting transactions (S. 2094; the Wyden Basis-Shifting Act). According to the related press release, the Wyden 2025 Partnership Act would raise more than $727 billion—a significant number.

Read a July article* prepared by a KPMG LLP tax professional that examines the provisions of the two bills introduced by Wyden.

*This article appears in Tax Notes Federal (July 14, 2025) and is provided with permission.

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