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

Major 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

CPE Credits Available

2 CPE

2: Taxes

Things to Know About This Course

Course Level

Basic

Prerequisites

None

Advanced Preparation

None

Intended Audience

CPAs, EAs, and other financial professionals

Provider

ACPEN