IRS Form: Draft Form 8978 on Partner Audit Liability (IRC §6226)

Draft of new Form 8978, Partner’s Audit Liability Under Section 6226, and draft Schedule A released August 6 to reflect changes to the audit procedures of partnerships under the 2015 BBA. The form is used to compute additional reporting year tax, penalties and interest. Tax code Section 6226 allows a partnership to elect to push responsibility for payment down to the reviewed year partners. [Draft IRS Form 8978 (Dec. 2019), Draft IRS Form 8978, Schedule A]

Reference:
View Draft Form 8978, View Draft Form 8978, Schedule A.