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TEFRA Who? A New Era for Partnership Audits

 
Gain a better understanding of the preparation and impact of the new IRS partnership audit rules.At the end of 2015, Congress enacted the Bipartisan Budget Act of 2015, which introduced a new set of rules governing the federal income tax audit procedure for entities treated as partnerships for federal income tax purposes. These rules represent a significant change in the partnership audit context and will take effect in taxable years beginning after 2017. Any taxpayers or businesses that have engaged in a joint venture or invested in entities that are partnerships for federal income tax purposes will want to understand the implications of this new regime on existing and future joint ventures. The topic will explain these new partnership audit rules and will provide practical solutions for addressing the new rules in existing and future partnership agreements.

Faculty

Kevin Spencer

Kevin Spencer

McDermott Will & Emery