![]() (Note that on April 8, 2020, the IRS released Rev. 6227, and addresses the effects of filing an AAR on certain types of partners. This item briefly summarizes the BBA rules, discusses the requirements for filing an AAR under Sec. ![]() For tax years beginning in 2018, partnerships that are subject to the BBA regime and that seek to adjust an item or amount reflected on an original Form 1065 or Schedule K- 1 must file an administrative adjustment request (AAR) under Sec. The BBA procedures also fundamentally changed the process for amending Form 1065 and its Schedule K- 1, Partner's Share of Income, Deductions, Credits, etc. 114- 74, repealed the partnership audit provisions under the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) and introduced a new centralized audit regime for IRS audits of entities required to file Form 1065, U.S. The Bipartisan Budget Act of 2015 (BBA), P.L.
0 Comments
Leave a Reply. |