The American Institute of CPAs is recommending a set of changes to the Internal Revenue Service’s proposed partnership audit regulations.

The Bipartisan Budget Act of 2015 paved the way for the new Centralized Partnership Audit Regime, making it easier for the IRS to audit large partnerships such as major private equity firms, hedge funds and CPA firms by auditing the firm itself and not all the individual partners.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access