Preliminary Analysis of Partnership Tax Changes in Budget Act

Analysis of Partnership Tax Changes in Budget Act

President Obama on November 2, 2015, signed into law the “Bipartisan Budget Act of 2015.”

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The legislation includes as revenue offsets, two partnership-related tax provisions: (1) changes to the rules for partnership audits and adjustments; and (2) amendments to Code sections 704(e) and 761(b) relating to the determination of who is a partner in a partnership.

 

Read KPMG’s description of these partnership tax provisions: KPMG Report: Preliminary Analysis of Partnership Tax Changes in Budget Act [PDF 185 KB] 

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