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
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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 impacted by the new regime:

 

 

Insights from KPMG

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

Read KPMG's recent issue of our bi-monthly Privately Speaking newsletter, where we highlight the new proposed regulations and its significance to privately held companies.

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Webcast Replay: The New Centralized IRS Partnership Audit Regime: Moving Forward Now…

In this Webcast replay, senior-level professionals from KPMG's Washington National Tax group and Tax Dispute Resolution Network present a review of the new regime, including:

  • An overview of the new partnership audit rules
  • The recently proposed regulations, including highlights of the important points
  • What taxpayers should be doing now to be prepared

(Original airdate: August 22, 2017)

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The New Partnership Audit Rules: An Executive Summary

Congress enacted the Bipartisan Budget Act of 2015 (the “Act”), which included major changes in the way the IRS will audit entities that are classified as partnerships for federal income tax purposes. As discussed in this What’s News in Tax article, taxpayers need to understand and consider the new rules today.

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Latest News

Tax Technical Corrections Are Enacted, Include Partnership Provisions

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Proposed Regulations: Adjusting Tax Attributes Under the Centralized Partnership Audit Regime

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Centralized Partnership Audit Regime and Withholding, Reporting Rules

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Proposed Regulations: Centralized Partnership Audit Rules, Initial Impressions

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Defining Issues 17-27 Recent IRS audit rules may affect how partnerships account for tax underpayments
KPMG reports on what changes partnerships may need to make to their financial reporting beginning in 2018.

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