Article Date:
October 2019


Word Count:
938

 

 

2019 Brings You New Partnership Audit Procedures


If your business is a partnership or an LLC taxed as a partnership, you need to read this article.

 

A few years ago, Congress changed the procedures for how the IRS makes changes in a partnership audit. The new procedures are now in effect for partnerships filing 2018 tax returns.

 

As with any changes to the tax law, watch your wallet: these new procedures can lead to more tax paid to Uncle Sam in an audit compared to the old system.

 

There are escape hatches your partnership can use to avoid a big tax hit in an audit. We’ll give you all the details when you read the article. ... Log in to view full article.

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