The centralized partnership audit regime enacted under the Bipartisan Budget Act of 2015 (BBA) became effective for partnerships with tax years beginning after Dec. 31, 2017. The new regime significantly impacts how the IRS audits partnership returns and assesses and collects any resulting taxes. In addition, partnerships under the BBA must file an administrative adjustment request (AAR) instead of an amended return to correct errors on partnership-related items.
Join Jim Usseglio, CPA/PFS, MST, CFP®, Principal at Baker Newman Noyes and