Posts from February 2020.
On February 20th, the IRS provided draft instructions to Form 8978 which reflected the changes to the audit procedures of partnerships under the 2015 BBA. The form is used to compute additional reporting year tax, penalties and interest. Partners will use Form 8978 to report adjustments shown on Forms 8986 received from partnerships that have elected to push out adjustments to partnership-related items to their partners.
A New Era of Partnership Representation Before the IRS
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Recent Blog Posts
- Surge in BBA Partnership Audits Expected in 2022
- IRS Releases Memo Concerning Access to Administrative File in TEFRA and BBA Examinations
- IRS Provides Penalty Relief for New Capital Reporting Requirements
- IRS Releases Proposed Regulations on Centralized Partnership Audit Regime
- Centralized Partnership Audit Regime Website Launched by IRS
- Partnership Filing Relief
- IRS Issues LB&I Memorandum
- IRS Release Clarifications for Form 8082
- IRS Release Draft Instructions to Form 8978
- IRS Releases Interim Guidance Centralized Partnership Audit Regime
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