New Partnership Audit Regulations Shift IRS Focus

Julia Turk, principal in the firm’s Corporate & Finance practice, authored an article for Law360 that examines the significant changes to federal partnership audit rules that are effective for partnership taxable years beginning after December 31, 2017. She notes that the existing rules under the Tax Equity and Fiscal Responsibility Act have been repealed and replaced by a new partnership audit regime under the Bipartisan Budget Act of 2015.