WATCH: Liability mismatch: Who is liable if a partnership is audited?

October 12, 2017

Blog Post

The IRS' new partnership audit rules centralize the assessment and collection of tax at the partnership entity level - and for the current partner group, this creates a liability mismatch. In this video, tax attorney Dave Ebersole explains who is liable if a partnership is audited, how to protect yourself in the case of an audit, and what action to take - now.

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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.

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WATCH: Liability mismatch: Who is liable if a partnership is audited?

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