August 23, 2016 News

CLIENT ALERT: Treasury Department Issues Temporary Regulations on Electing into the New Partnership Audit Rules

August 23, 2016 – The Treasury Department recently issued temporary regulations that detail how partnerships may make an early election into the new partnership audit rules.  Partnerships and their partners need to become familiar with how the new partnership audit rules have changed the federal tax audit process and partners’ rights to participate in such process.  Please click here to read an overview of the key provisions of the temporary regulations and the new partnership audit regime.