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.
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.
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.
