AICPA Urges IRS to Simplify Push-Out Forms for Partnerships

The IRS should simplify the administration of the forms and instructions that partnerships use to push out to their partners the tax impact of any adjustments in the partnerships, an accounting group said.

The changes would help address issues with the centralized partnership audit regime, the streamlined process for the IRS’s audits of partnerships that was enacted in 2015, the American Institute of CPAs said in a letter to the Treasury Department and the IRS dated Friday and released by Treasury on Tuesday.

• With the IRS’s move to dramatically ramp up its audits of partnerships, the changes are needed to ...