On November 19, 2020, Megan L. Brackney participates in a panel entitled “Partnership Audit Rules” as part of the NYU 79th Virtual Institute on Federal Taxation.

Panel information: UPDATE ON THE CENTRALIZED PARTNERSHIP AUDIT RULES: ARE YOU AND YOUR CLIENTS READY? Now that entities taxed as partnerships and their tax advisors have had three years to understand and put into place procedures as well as revisions to outstanding partnership and LLC operating agreements to adapt to the new partnership audit rule regime, the focus now turns to how tax audits, appeals, settlements, litigation, and appeals of adverse judicial determinations will work in “real time.” The co-chairs address problems associated with elections-out, understatement modifications, push-outs and pull-ins, as well as how partners can protect themselves from the partnership representative’s unilateral authority to settle out all partnership issues. Continuing applicability of the TEFRA audit rules for tax years beginning on or before 2017 also are discussed.

Co-Chairs: Jerald David August, Esq., Partner, Fox Rothschild, Philadelphia, PA Megan L. Brackney, Esq., Partner, Kostelanetz & Fink, New York, NY

Click here for more information.