Speaker: Amanda Nussbaum
Topic: From the Frying Pan and Into the Fire: Handling Audits Under the New Centralized Partnership Audit Regime
Audits of partnerships and other pass-through entities were previously governed by special procedures under the Tax Equity and Fiscal Responsibility Act (“TEFRA”). For tax years 2018 and forward, however, audits of partnerships and pass-throughs will be governed by the new Centralized Partnership Audit Regime. The new regime will dramatically change the way audits are handled and practitioners must understand the new rules to effectively represent their clients and avoid costly mistakes. This panel will discuss the new regime and the complexities of transitioning from TEFRA. The panel will also suggest ways to prepare for and effectively manage a partnership audit under the new rules. The speakers include: