IRS Issues Notice on Centralized Partnership Audit Regime
The Internal Revenue Service (IRS) today published in the Federal Register a notice of proposed rulemaking, public hearing and withdrawal of notice of proposed rulemaking concerning centralized partnership audit regime. The new regulations provide rules for partnerships under the Bipartisan Budget Act of 2015. The proposed rules published Feb. 13, 2009, are withdrawn. Comments on the proposal must be submitted by Aug. 14.