Congress Makes Changes to Partnership Audit and Adjustment Rules

Posted date: November 11, 2015 In: QuickPress, Tax

Large Partnerships Face Major Changes to Audits and Adjustments

The recently enacted federal budget deal includes major changes to how the IRS will audit large partnerships and, when adjustments result in tax underpayments, will allow the IRS to collect the tax directly from the partnership, instead of from the individual partners. Alistair M. Nevius, Journal of Accountancy editor-in chief, discusses the new rules and some major provisions affecting partnerships.

To find out more on this Journal of Accountancy article, click: Congress Makes Changes to Partnership Audit and Adjustment Rules.

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National Association of Certified Valuators and Analysts

The National Association of Certified Valuators and Analysts (NACVA) supports the users of business and intangible asset valuation services and financial forensic services, including damages determinations of all kinds and fraud detection and prevention, by training and certifying financial professionals in these disciplines.

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