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PARTNERSHIP AUDIT RULES TAKE EFFECT JANUARY 1, 2018. IT’S TIME TO AMEND YOUR PARTNERSHIP AGREEMENT

By Jamey Parker, CPA               

The world of partnership audits will be changing on January 1, 2018. Congress passed the Bipartisan Budget Act of 2015 (the “BBA”) that made significant changes to the rules for auditing partnerships.  Included in these rule changes are several elections and other items which should be addressed in your partnership agreement.

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