Finanse publiczne · 09/08/2018

Final Regulations for Partnership Representative Under Centralized Partnership Audit Regime

The IRS has released final regulations for partnerships, effective for taxable years starting after December 31, 2017, regarding the designation and authority of the partnership representative under the centralized partnership audit regime, which was enacted by the Bipartisan Budget Act of 2015. The regulations also address the election to apply the centralized partnership audit regime to partnership taxable years from November 2, 2015, to January 1, 2018.