Overview
The centralized partnership audit regime under the Bipartisan Budget Act of 2015 (BBA) became effective for partnerships with tax years beginning after Dec. 31, 2017. The new regime significantly impacts how the IRS will audit partnership returns and collect any resulting taxes.
Under the new regime, audit decisions on behalf of the partnership are made by a key individual, referred to as the partnership representative. The partnership representative has the sole authority to act on behalf of the partnership