Understanding Partnership Liability Under New Audit Rules

From OMA Connections Partner, Clark Schaefer Hackett: “The rules from the Bipartisan Budget Act of 2015 are now in effect. One of these rules is that any underpayments of tax by a partnership will be attributed to a partnership’s current partners, not those who owned the entity during the year under examination. Many partnerships may be surprised to learn that they are subject to this tax audit rule.”

Read more from CSH about what partnerships need to know about tax liability, options for relief and how to protect your organization. 2/16/2018