ACTEC released it comment on proposed partnership audit regulations (REG-136118-15), suggesting that the IRS allow trusts to be eligible partners when determining a partnership’s eligibility to opt out of the new rules, noting that adding trusts to the class of qualified partners wouldn’t increase the audit burdens.

See full comment letter by clicking ACTEC comments on Eligibility of Trusts to Participate in an Election Out of the Partnership Audit Rules under New Section 6221 (August 4, 2017).

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.