Miriam Fisher

Jul 15, 2024 | lexology.com | Miriam Fisher |Brian McManus |Jason Grover |Amy Feinberg |C. Timothy Fenn

Enhanced budgets and innovative technologies such as artificial intelligence are driving stepped-up IRS guidance and enforcement actions aimed at complex partnerships. Key Points:The IRS has historically faced challenges auditing complex, multi-tiered, and publicly traded partnerships. The partnership audit rules were overhauled in the Bipartisan Budget Act of 2015 (BBA),1 but the IRS has lacked sufficient resources to test their effectiveness.