Partnership Tax Exams - Getting Ready for the Major Changes Virtual Seminar

The start date for this course has passed. Registration is no longer available.

This course is 4.00 credits
Fields of Study
Auditing, Tax
Course Level
Kaplan CPA Education

Registration Fees

MSCPA Member
AICPA Member
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Thursday, Sep 17, 2020
8:45am – 12:15pm

Due to the ongoing COVID-19 (coronavirus) pandemic, the MSCPA has made the difficult decision to make our scheduled live seminars in 2020 virtual-only events. The topics, dates, times and CPE credits will remain the same, and you will learn from the same top-level speakers that you expected to see at our live programs.

While searching for a source of revenue enhancement for the 2015 budget, Congress decided to radically change the way partnership tax returns are examined in the Bipartisan Budget Act of 2015 (BBA). The new regime applies to tax years beginning in 2018, but partnership agreements will be modified as we approach the beginning date.
This course will allow you to help partnerships make decisions regarding changes that may be made to partnership agreements, plus ready you to assist partnerships with future tax exams.

Designed For

CPAs, accountants, and financial professionals who work with tax matters with partnerships.

Course Objectives

Participants will be able to: 

  List the three types of partnership exams
 Advise clients regarding electing an early application of the BBA audit regime
 Recognize partnerships eligible to opt out of the BBA regime
 Represent partnerships in examinations conducted under the BBA regime

Major Subjects

• Small partnership audit rules under TEFRA and BBA, as well as the pros and cons of opting to use those procedures
• The TEFRA centralized audit rules, how they work and why Congress decided the system was no longer effective
• The basics of the new system—how a partnership tax is imposed under the new regime
• Partnerships eligible to opt out of the new regime, as well as those types of partners that render a partnership ineligible to opt out
• The option to “push out” adjustments to partners in lieu of making a partnership payment of tax


Understanding of partnership tax law

The start date for this course has passed. Registration is no longer available.