Effective for Forms 1065 filed in 2018 and later (the freight train has arrived), the TEFRA partnership audit rules are axed and a whole new regime kicks in. Under the new rules, partnerships (and LLCs) will become strange new beasts that IRS may audit and collect income tax from. Do these new “tax procedure” rules spell the beginning of the end for partnerships as we know them? Escape routes are available, but not for all. Advance planning is a must to avoid train wrecks.
Who Should AttendAnyone who works with partnerships from a planning or compliance perspective. Anyone who owns a partnership interest and cares to not be devastated by IRS’ extraordinarily broad new powers.
Instructional MethodGroup: Internet-based
NASBA Field of Study
Taxes (3 hours)