New Audit Powers Mean New Liabilities For Partnership Reps
Law360, New York (May 16, 2017, 9:17 PM EDT) -- Forthcoming IRS regulations are expected to grant broad powers to those representing partnerships during audits, but these added capabilities could expose representatives to new risks, liabilities and potential misconduct claims from partners.
A number of tax practitioners told Law360 that they anticipate proposed regulations for a new partnership audit regime enacted by Congress to be reissued in the next couple of months after they had to be hastily withdrawn in January under a regulatory freeze instituted by the new administration.
The forthcoming rules will likely be substantially similar to what was made public just days before President Donald Trump took office,...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!