The IRS Publishes a Roadmap for Bipartisan Budget Act (BBA) Partnership Audits

On July 6^th, the IRS published a BBA Roadmap for Taxpayers to assist partnerships subject to the centralized partnership audit regime. The centralized partnership audit regime was created in the Bipartisan Budget Act of 2015 and applies to partnership tax years beginning after December 31, 2017.  Although the IRS has already started some BBA audits, the release of the roadmap is likely an indication that more partnership audits will be starting soon. 

Below are links to our prior blog posts regarding the BBA Partnership Audit Rules:

IRS Provides Partners-And Partnerships Tax Professionals-Relief In Rev. Proc. 2020-23

New Partnership Audit Rules: Should the Partnership Agreement be Amended?

Opting Out of the New Partnership Audit Rules

Thoughts and Consideration Regarding the Designation of a Partnership Representative

The IRS Takes a Small but Important Step in Clarifying the New Partnership Audit Rules

Taxpayers Beware! Partnerships Should Consider Amending Their Agreements Now to Address Significant Issues Resulting From the New Partnership Audit Rules

Texas Bar Tax Section Issues Comments Regarding New Partnership Audit Rules

For questions related to this or any other civil tax or criminal tax-related matter, please feel free to contact Joel Crouch at (214) 749-2456 or jcrouch@meadowscollier.com.