Partnership Project

This project was approved by the Executive Committee at its meeting on July 31, 2014. The Uniformity Committee subsequently met to discuss the project and consider the scope as well as the make-up of a working group.
Project Description - Partnership Project

In response to congressional concern that partnership income was escaping effective audit coverage, the IRC's 1982 TEFRA provisions have been completely changed. See H.R. 1314, the Bipartisan Budget Act of 2015, Section 1001, et seq. 

This project is intended to address the following questions:
  • Are new state statutes called for?
  • What more should the states be doing to audit and track partnership income?
  • Are withholding statutes effective enough given multiple tiered entities, and how will old statutes intersect with entity-level liability?


To comment on the draft model RAR statute proposed by COST, TEI, the AICPA, and the ABA SALT Committee, please click here
 



To comment on the IRS rules and regulations,* please e-mail Helen Hecht.

* links to external PDF

PUBLIC NOTICE & AGENDA

Partnership Work Group

The next regularly scheduled meeting of the work group is July 20, 2017 from 3:00 p.m. to 4:30 p.m.  There will be no meeting on August 3, 2017 because of the Commission’s annual meetings that week.

Dial-In Number: 1-719-457-1414
Conference Code: 258090#
I. Introductions
II. Public Comment Period
III. Background Information
IV. Discussion of How the Group Would Like to Proceed
V.
Adjournment

 

Partnership Informational Project 
Reference Information

Drafting Resources:

Agendas, working documents, and other project-related information from previous meetings:

Materials related to federal legislative revisions to the partnership audit regime:

Proposal from ABA/AICPA Task Force for Uniform Model RAR Statute


Other relevant publications: