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New Partnership Audit Regs Final Before Year End?

By Amanda Wilson on Feb 23, 2016 in government, International, IRS, Partnership Tax, path act, Tax

By:  Amanda Wilson At a tax conference yesterday, a Treasury official indicated that Treasury is working hard to finalize regulations before the 60-day freeze that occurs before the inauguration of a new president (Treasury will not issue final...

Electing into New Partnership Audit Rules

By Amanda Wilson on Feb 2, 2016 in audit, government, International, IRS, lowndes, Partnership Tax, treasury

By:  Amanda Wilson As previously discussed (here), TEFRA, the audit regime that has long applied to partnerships, has been repealed and a new partnership audit regime is poised to go into effect for tax years beginning in 2018.  The new audit rules...

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...