WATCH: Partnership audit rules 101

September 5, 2017

Blog Post

Major changes coming down the pike in 2018 fundamentally change how partnership audits are performed, and as a result all partnerships and most LLCs need to amend their partnership agreements.

In this video, tax attorney Dave Ebersole gives a brief overview of the new IRS partnership audit rules and answers some FAQs about the new audit rules, including:

What exactly is changing with the new partnership audit rules?
What is happening to the tax matters partner role?
How much authority will the new partnership representative have?
What can my business do to prepare for the new partnership audit rules?
What happens if you do not amend your partnership or operating agreement?
What partnerships or LLCs do these rules apply to?

The past year has been dominated by news of Beyoncé’s Renaissance World Tour and Taylor Swift’s Eras Tour but tickets have been incredibly difficult to come by. This is largely due to ticket scalpers, however, the Internal Revenue Service, IRS, is taking action to help concert-goers.

McDonald Hopkins tax attorney and Managing Member of the Cleveland office, David Kall, shared his perspective on how Ohio HB 33 overhauls taxes, impacting individuals and businesses, in a commentary article published by Crain's Cleveland Business.

McDonald Hopkins continues to bolster the strength of its Business Law Department with the addition of two new attorneys to its Chicago office - Jason Faust and Samuel Tallman.

WATCH: Partnership audit rules 101

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