Surviving an IRS Partnership Audit

Holland & Knight's Tax Practice hosted a webinar discussing the IRS partnership audit process. The IRS is laser-focused on enforcement, and many taxpayers may soon be subject to their first IRS audit. One area of particular focus is partnerships. Although partnerships have historically enjoyed low audit rates, Congress enacted new rules to make it easier for the IRS to audit partnerships. These rules went into effect in 2018, and the first IRS audits under these rules began in 2019. In addition, the IRS began its Large Partnership Compliance initiative in October 2021 to examine large partnerships using data analytics and risk analysis similar to its program for examining large corporations.

Partners Lee Meyercord, Mary McNulty, Abbey Garber and James Dawson host this highly informative presentation on the new partnership audit rules, hot IRS enforcement areas and the audit process more generally.