• Watch: Partnership Audit Rules 101
  • September 28, 2017 | Author: David D. Ebersole
  • Law Firm: McDonald Hopkins LLC - Columbus Office
  • Major changes coming down the pike in 2018 fundamentally change how partnership audits are performed, and as a result all partnerships and most LLCs need to amend their partnership agreements.

    In this video, tax attorney Dave Ebersole gives a brief overview of the new IRS partnership audit rules and answers some FAQs about the new audit rules, including:

    • What exactly is changing with the new partnership audit rules?
    • What is happening to the tax matters partner role?
    • How much authority will the new partnership representative have?
    • What can my business do to prepare for the new partnership audit rules?
    • What happens if you do not amend your partnership or operating agreement?
    • What partnerships or LLCs do these rules apply to?