Issue Spotlight: Electing Out of the BBA Partnership Rules

In late 2015, the Bipartisan Budget Act of 2015 (the “BBA”) repealed the current Tax Equity and Fiscal Responsibility Act (“TEFRA”) partnership audit rules and procedures, which have been in place since the 1980s. The new BBA rules are effective for returns filed for partnership taxable years

For more information visit: AICPA – Tax