What Your Business Needs to Do to Get Ready for Partnership Audits

"The Bipartisan Budget Act of 2015 (BBA) changed how the Internal Revenue Service audits businesses taxed as partnerships (referred to in this article generically as partnerships) for tax years beginning on Jan. 1, 2018. Ohio conformed to these rules in the recent biennial budget, Am. Sub. H.B. 166 (H.B. 166), and other states are adopting similar tax laws. Businesses should amend their governing documents now to be prepared to respond to these audits, if and when they come."

Goering Center News has published this article by Dinsmore Partner Kelvin Lawrence. To read it in full, click here or download the attached pdf.