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IRS Re-Releases Partnership Audit Regulations

By:  Amanda Wilson

The IRS has released proposed regulations implementing the new centralized partnership audit rules.  These regulations are virtually identical to the regulations that were released and then pulled in January of this year.  A slide presentation that I previously posted discussing these regulations (as well as other developments) can be found here.

IRS Pulls Proposed Partnership Audit Regulations

By:  Amanda Wilson

As I previously discussed (here), the IRS released last week long awaited regulatory guidance addressing the new partnership audit rules.  The status of these proposed regulations is unclear, though, as the IRS officially withdrew the regulations  yesterday in response to a White House memorandum ordering a freeze on all regulatory guidance that had not yet been published in the Federal Register.  (The IRS had released the regulations but they had not yet been published in the Federal Register).

While the status of the proposed regulations is unclear, what is clear is that taxpayers need guidance on how the new audit rules will be implemented.    Hopefully we will get answers soon, because these new rules go into effect next year.

Five Things You Need to Know Now About the New Partnership Audit Rules

New law ahead road signBy:  Amanda Wilson

For a discussion of the five things you need to know now about the new partnership audit rules, please read my recent article found here.

 

 

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