The new centralized IRS partnership audit regime

Learn about the new centralized IRS partnership audit regime and how it may affect taxpayers conducting business through partnerships.

Miri Forster

Miri Forster

Principal, Tax Controversy Services, KPMG US

+1 973-315-2631
View more

Effective tax years beginning January 1, 2018, a new centralized IRS partnership audit regime will transform partnership audits and the assessment and collection of tax, affecting all taxpayers that conduct business through partnerships now and in the future.

Sectors potentially affected by the new regime:

Insights from KPMG

IRS Memo Suggests Expanded Role For Appeals Within the Partnership Audit Procedures

April 12, 2019 | KPMG's Greg Armstrong discusses recent IRS guidance that indicates the IRS Office of Appeals will play a larger role in the new partnership audit procedures under the Bipartisan Budget Act of 2015. The author concludes that although further guidance is needed, the memorandum is an important first step.

Read more


 

TaxNewsFlash: Tax Technical Corrections Are Enacted, Include Partnership Provisions

March 23, 2018 | The president today signed legislation that includes tax technical correction provisions for certain partnership measures.

Read more


 

TaxNewsFlash: Proposed Regulations - Adjusting Tax Attributes under Centralized Partnership Audit Regime

February 1, 2018 | The U.S. Treasury Department and IRS today released for publication in the Federal Register proposed regulations (REG-118067-17) as rules addressing how partnerships and their partners adjust tax attributes to take into account partnership adjustments under the centralized partnership.

Read more


 

TaxNewsFlash: Centralized Partnership Audit Regime and Withholding, Reporting Rules

November 29, 2017 | The U.S. Treasury Department and IRS today released for publication in the Federal Register a notice of proposed rulemaking (REG-119337-17) containing proposed regulations addressing how certain international tax rules operate under the U.S. centralized partnership audit regime.

Read more


 

Privately Speaking: The Impact of the New Partnership Audit Regime on Privately Held Companies

September 2017 | KPMG highlights the new proposed regulations and its significance to privately held companies.

Read more