Watch a recording of a webinar presented by Chamberlain Hrdlicka tax attorneys, Phil Karter, Scot Kirkpatrick, Katherine Jordan and Reid Barrineau on the important implications of the new partnership audit rules. effectuated by the Bipartisan Budget Act of 2015, P.L. 114-74, § 1101 (enacting new §§ 6221-6241)("BBA").
The new law is a game changer that will radically alter how the IRS audits partnerships and LLCs. Consequently, persons currently operating in partnership or LLC form would well advised to consider the implications of the new law which, in most cases, will require amendments to partnership or operating agreements.