If One Musician Plays A Wrong Note, the Entire Orchestra Now May Pay the Price — Be Aware of New Partnership Tax Audit Rules

Whitman, Elizabeth: “With awareness and diligent preparation, many partnerships should be able to opt out of the post-TEFRA rules and continue to operate as they have in the past the TEFRA rules, but they still should amend their agreements in case they find themselves subject to the post-TEFRA rules in the future.  For those partnerships that cannot opt out of the post-TEFRA rules, amendments to their partnership agreements can help prevent tomorrow’s partners from paying for today’s partners’ “wrong notes.”

By |2018-05-03T12:59:02+00:00May 3rd, 2018|New Tax Audit Rules|

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