IRS Launches Partnership Audit Website (IR-2020-199)
2020-09-02 The Bipartisan Budget Act of 2015 (Public Law No. 114-74) replaced the auditing and tax collection procedures for partnerships under the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) and the electing large partnership rules with the centralized partnership audit regime, with the centralized partnership audit regime, also referred to as BBA or PBBA, generally effective for tax years beginning January 2018. Under the BBA, the IRS generally assesses…