Partnership audit regulations: What you need to know now

The recently reissued Bipartisan Budget Act of 2015 partnership audit regulations require changes to every partnership agreement. And because they are effective for partnership tax years that begin after Dec. 31, 2017, partnerships should be in the process of reviewing and changing their operating agreements in accordance with the requirements of the new guidelines.

To help you navigate this uncharted territory – and the 400 pages of regulations – Baker Tilly professionals discuss the changes and opportunities this new regime will bring and what they mean to you.

The program includes

  • A discussion regarding the role of a partnership representatives – some considerations for this important designation
  • The impact of the so-called “push-out election” – what it means, how it will be administered and the potential need for tax provisions
  • Some examples of partnerships that may benefit from the new partnership audit regime

Panelists

  • Mark Heroux, Principal, IRS Practice and Procedures (moderator)
  • Colin Walsh, Senior Manager, IRS Practice and Procedures (presenter)
  • Brad Polizzano, Manager, IRS Practice and Procedures (presenter)

Download the presentation >

For more information on this topic, or to learn how Baker Tilly tax specialists can help, contact our team.