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More Information about New Partnership Audit Rules

By Amanda Wilson on Nov 10, 2015 in audit, budget, government, IRS, Partnership Tax, tax audit

By:  Amanda Wilson A more detailed discussion of the impact of the new partnership audit rules can be found here.

Goodbye TEFRA, Hello New Partnership Audit Rules

By Amanda Wilson on Nov 9, 2015 in audit, government, International, IRS, Partnership Tax, Tax

By:  Amanda Wilson Last week, President Obama signed into law the Bipartisan Budget Act of 2015.  As I mentioned in a prior post (found here), the budget bill contained a proposal to revamp how partnerships are audited.  Specifically, TEFRA (the...

New Partnership Audit Rules Heading Our Way??

By Amanda Wilson on Oct 28, 2015 in audit, government, International, IRS, Partnership Tax, Tax

By:  Amanda Wilson The budget bill introduced yesterday includes a proposal to revamp/streamline how partnerships are audited.  Specifically, it would repeal the  much maligned TEFRA (1982 Tax Equity and Fiscal Responsibility Act) rules. The overall...

IRS Reviewing Fewer Business Returns

By Amanda Wilson on Mar 3, 2015 in audit, budget, Business Owners, Federal Income Tax, International, IRS, Tax

By:  Amanda Wilson The IRS announced yesterday that it examined 6 percent fewer tax returns in 2014 than 2013.  In addition, the total number of tax exams for business returns has dropped to the lowest level in eight years.  For large corporations,...