IRS Floats Tiered Partnership Rules Under New Audit Regime

By Amy Lee Rosen (December 15, 2017, 12:14 PM EST) -- The IRS on Friday released highly anticipated guidance on a new partnership tax audit regime to address, among other things, how tax adjustments should be taken into account by so-called tiered partnerships that have pass-through entities as partners.

The changes are intended to make it easier for the IRS to audit partnerships by making adjustments and collecting tax at the partnership level rather than at the level of the individual partners. (AP) Under the new regime, which takes effect Jan. 1, a partnership is generally required to pay tax liabilities the year the Internal Revenue Service makes an adjustment unless the partnership...

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!


Attached Documents

Related Sections

Law Firms

Government Agencies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!