IRS T.D.: Designation and Authority of Partnership Representatives (IRC §6223)

Designation and authority of a partnership representative under the centralized partnership audit regime provided in final regulations, the IRS announced. The final regulations provide the following amendments from the proposed regulations: that a disregarded entity can serve as the partnership representative; the partnership must appoint the designated individual on its return for the relevant year; clarification on the time and place for meeting between the partnership representative and the IRS; removing reference to the normal business hours; and removing the capacity-to-act requirement, among other amendments. [T.D. 9839, RIN 1545-BN41, 83 Fed. Reg. __ (Aug. 9, 2018)]

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