State 模型法案 for tax partnership audits moves ahead with 188bet亚洲真人体育下载’s leadership

A 模型法案 is nearing the finish line that states can use to conform their tax laws to federal changes that govern reporting adjustments to income as a result of the centralized partnership audit regime (Regime).  的 美国注册188bet亚洲真人体育下载 (188bet亚洲真人体育下载) played a leading role in the 模型法案’s development, which will receive a public hearing by the Multistate 税 Commission (MTC) on October 15.   的 MTC Executive Committee will subsequently review a report from that hearing before taking a vote to approve the model statute.

Recognizing the importance of developing a model statute, the 188bet亚洲真人体育下载 formed the State Partnership 审计s Task Force, which is comprised of 188bet亚洲真人体育下载 members with expertise in state tax and partnership tax issues, 来解决这个问题. 的 goal is to prevent substantial variance in how individual states dealt with implementing rules to conform to changes enacted by Congress in 2015.   

的 task force has been led by Jonathan Horn and Eileen Sherr, senior managers on the 188bet亚洲真人体育下载 税 Policy and 宣传 Team, and collaborated with other interested state tax stakeholders to develop a model statute.  的 stakeholders group included the Council on State 税ation, 税务行政人员学会, the ABA Section of 税ation’s State and Local 税 Committee, the Institute for Professionals in 税ation and the Master Limited Partnership Association.

So far, Georgia and California have passed legislation based on the model statute. Georgia’s bill was signed into law earlier this year. Adopting the MTC model statute would allow a state to collect its share of liabilities flowing from an Internal Revenue Service (IRS) partnership audit and prevent it from facing substantial legal and administrative concerns.  的 model statute also addresses the changes made to federal audit procedures by the Regime that impact state specific issues, such as residency and apportionment.

的 188bet亚洲真人体育下载 task force has provided information to state CPA societies as they work with state legislators and help state authorities develop new state partnership audit rules over the next few years.

审计s of partnerships by the IRS under the new Regime will not begin until late 2019, and the first completed audits are unlikely to occur until late 2020 or early 2021.

More details regarding the new federal Regime and the 188bet亚洲真人体育下载 comments on the proposed regulations are provided in an article 发表在 税务顾问 在 188bet亚洲真人体育下载 Partnership 审计s Webpage.