Adam S. Winger (J.D. 2010, Georgia State; LL.M. (Taxation) 2011, NYU) has published Note, Divorcing the Husband and Wife Business: An Analysis and Critique of I.R.C. Section 761(f), 25 Ga. St. U. L. Rev. 1231 (2009).  Here is the Introduction:

Congress extended a unique benefit to husband-and-wife businesses in its 2007 modification of I.R.C. § 761(f). The subsection now allows a spousal venture to elect out of federal partnership status in favor of a newly created hybrid entity, the “qualified joint venture.” By splitting the existing partnership into two distinct sole proprietorships, the qualified joint venture relieves couples of complex compliance burdens associated with partnership taxation. Additionally, I.R.C. § 761(f) calls for a proportionate division of income between the spouses, thus each will be correctly awarded Social Security and Medicare credit for their efforts. Although the subsection's benefits are clear, Congress' failure to resolve several related issues may unfortunately limit the legislature's benevolent intent. This article provides an analysis of I.R.C. § 761(f), highlighting some of its benefits and shortcomings and also provides a few recommendations for improvement. Part I investigates several benefits I.R.C. § 761(f) seeks to extend. Part II offers both an analysis and critique of the subsection's provisions. Finally, Part III provides functional recommendations for improvement.