On July 6th, 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:
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 email@example.com.