Centralized Partnership Audit Rules

2018’s filing season brought new questions about how the IRS audits Centralized Partnership returns. This course addresses those questions and provides direct and succinct answers, so the practitioner knows what to expect going forward. Additionally, this course will enable the practitioner to provide expository tax advice, putting the client at ease during tax season.

**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.

Learning Objectives:

• List and define the new Centralized Partnership Audit Rules
  
• Record new rules and regulations when filing Partnership returns
  
• Interpret effective planning strategies
  
• Demonstrate that clients are meeting compliance regulations

Key Topics:

• Changes to IRS auditing of Form 1065, including LLCs taxed as partnerships
  
• Understanding new CPA rules such as the Imputed Underpayment rule and how that affects partners’ basis
  
• Understanding the 199A Pass-Through Deductions and what level these deductions take place
  
• Review of prior years’ Partnership Audit Regimes and learning how and why CPAR replaces those regimes and criterion for electing out

Designed for: CPAs, EAs, and other financial professionals

Level: Basic

Instructor: Shelli Huston

Developer: Arthur Werner

CPE Credits: 2

Area(s) of Study: Taxes - Technical