WATCH: How to opt out of new partnership audit rules

November 2, 2017

Blog Post

All partnerships and most LLCs need to amend their partnership and operating agreements in response to the IRS' new partnership audit rules. The good news is that many small partnerships can affirmatively opt out of the provisions ahead of time. In this video, tax attorney David Ebersole explains the opt out process and details who is eligible to opt out.

McDonald Hopkins, a destination law firm for top legal talent, is pleased to announce that Madison Massie has joined the firm's Business Department as an Associate, bringing her knowledge and expertise to the Tax and Benefits Practice Group.

Companies should begin evaluating whether they qualify for an exemption from CTA reporting requirements, and if not, begin preparing reporting information and constructing policies to ensure continued compliance with the CTA.

The past year has been dominated by news of Beyoncé’s Renaissance World Tour and Taylor Swift’s Eras Tour but tickets have been incredibly difficult to come by. This is largely due to ticket scalpers, however, the Internal Revenue Service, IRS, is taking action to help concert-goers.

WATCH: How to opt out of new partnership audit rules

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