Navigating the IRS’s Complex New Partnership Audits (Podcast)

A 2015 law promised to streamline the Internal Revenue Service’s method for auditing partnerships—a type of “pass-through” business where the partners report their share of the proceeds on their personal tax returns.

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The Bipartisan Budget Act of 2015 included provisions intended to make it easier for the IRS to scrutinize partnerships. But the law created new concerns and unintended consequences for those navigating the audit process, according to Rochelle Hodes, principal of the Washington ...