New Partnership Audit Rules Under the TCJA
The Bipartisan Budget Act of 2015 drastically changed how entities taxed as partnerships interact with the IRS in an audit. The new partnership audit rules were effective for partnerships beginning in 2018. The BBA repealed the previous partnership audit rules under TEFRA. The changes were designed to streamline the audit of a partnership return. This video reviews the key changes in the new partnership audit rules, the 20% pass-through deduction that was enacted as part of the new tax act, and finally remarks on changes in the foreign earned income exclusion, particularly as it relates to government contractors.
Agenda
Faculty
Daniel K. McClendon
Fox Rothschild LLP
- Attorney in the Philadelphia office of Fox Rothschild LLP
- Former law clerk for the Honorable Mark V. Holmes of the U.S. Tax Court
- Practice emphasizes federal tax controversy matters before the Internal Revenue Service, including examinations, appeals and collection proceedings, and in litigation in the U.S. Tax Court and other federal courts
- LL.M. degree in taxation from Georgetown University Law Center
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