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Internal Revenue Service › Audit Policies

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Cadwalader, Wickersham & Taft LLP

Treasury Holds Fast on Centralized Partnership Audits

Cadwalader, Wickersham & Taft LLP on

On December 8, Treasury issued final regulations (the “Final Regulations”) updating the existing centralized partnership audit regime. These regulations largely adopt the provisions of regulations that were previously...more

Butler Snow LLP

Partnership Audit Rules Clarified by the Consolidated Appropriations Act

Butler Snow LLP on

Technical corrections to the partnership audit rules were included in the 2018 Consolidated Appropriations Act signed by President Trump on March 23rd (the “Appropriations Act”). ...more

Katten Muchin Rosenman LLP

New Partnership Audit Regime Set to Take Effect in 2018, Proactive Planning Recommended

Katten Muchin Rosenman LLP on

On November 2, 2015, Congress passed the new centralized partnership audit regime as part of the Bipartisan Budget Act of 2015 (BBA) which is set to take effect for the tax years beginning on or after January 1, 2018. The...more

McGuireWoods LLP

Congress Passes New Partnership Audit Rules - The Bipartisan Budget Act of 2015

McGuireWoods LLP on

On November 2, President Obama signed the Bipartisan Budget Act of 2015 into law, which brought sweeping changes to the partnership audit rules. The act repeals the substantive tax provisions and voluntary centralized audit...more

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