| MCLE Credit: | 1.0 (Ethics: 0.0) |
| Live-Interactive Credit: | 0.0 |
| Price: | $79 (Includes a downloadable audio version.) |
| Viewable Through: | 03/31/2027 |
$79.00 (or 1 Bundle Credit)
A pre-recorded streaming VIDEO replay of one session from the June 2024 live seminar, 75th Annual Virginia Conference on Federal Taxation.
Virginia’s Premier Tax Conference for Attorneys and Accountants Sponsored by the Virginia Tax Foundation
When new rules were enacted in 2015, and first effective for partnership taxable years beginning in 2018, there was skepticism about whether they would make it easier for the IRS to audit partnerships. Under the prior TEFRA audit regime, while audits were centralized, identifying the ultimate tax paying partners and then assessing and collecting tax from them required such a significant investment of IRS resources that overall partnership audit rates hovered near zero. BBA was supposed to make partnership audits and ultimately collection of tax due easier for the IRS. Now, almost 10 years later, the IRS, taxpayers, and practitioners struggle to navigate these complex rules. New funding for the IRS has allowed it to increase the number of partnership audits, and with this experience everyone is learning a little more about how the BBA partnership regime works. This presentation discusses how the BBA partnership audit regime works and shares some of the lessons learned so far.
Rochelle Hodes, Crowe LLP / Washington, DC
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