JD Supra: “On November 2, 2015, Congress passed the new centralized partnership audit regime as part of the Bipartisan Budget Act of 2015 (BBA) which is set to take effect for the tax years beginning on or after January 1, 2018. The intent and purpose of the new regime is to allow the Internal Revenue Service (IRS) to more effectively and efficiently audit partnerships by (1) allowing the IRS to collect from the partnership any partnership tax adjustment; and (2) requiring the appointment of a “partnership representative” to act as the point-person and binding decision maker with respect to any IRS audit procedures and related matters.”