Congress has allocated approximately $80 billion to Internal Revenue Service (IRS) audits and enforcement. After the Bipartisan Budget Act of 2015 (BBA), the IRS has heightened its focus on tax partnerships, Form 1065, and the accompanying schedules. 

Recent developments in legislation, regulatory guidance, and IRS enforcement are facilitating greater transparency and enabling the IRS to streamline compliance and enforcement. The IRS is focusing on specifics of Form 1065 and the associated schedules.    

This course will help you be proactive and prepare by identifying areas of audit risk and ways to address previously filed tax returns. It will cover how a partnership can remedy a missing partnership representative designation, what the IRS can do in these cases, and how a partnership representative can be replaced. 

Learning Objectives: 

• Identify areas of IRS audit focus for entities filing IRS Form 1065


• Recognize how recent legislative, regulatory, and enforcement developments impacting IRS audits of tax partnerships, including multi-member LLCs


• Observe when the new centralized audit regime applies and may not apply


• Define risk areas in partnership tax reporting 


• Identify amendment of partnership returns subject to and outside of the new centralized audit regime


• Determine what forms should be filed to amend a partnership return subject to the new centralized audit regime


• Summarize the details around replacing the partnership representative and related considerations


• Determine when a partnership representative designation may be invalid and how to remedy

NASBA Approved

CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

EA Approved

CPAacademy.org (Sponsor Id#: HURS9) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222