![]() ![]() ![]() A higher-tier partnership may need to follow special procedures for making adjustments when a lower-tier partnership's return is modified.The IRS has issued new forms for taxpayers to use when revising a return through an AAR.As a best practice, every partnership should consider filing an extension request so that, if necessary, it can easily revise a previously filed return up to its extended due date using a superseding return. Any partnership can modify a tax return whose deadline has not yet passed by simply submitting a superseding return. ![]() Eligible partnerships that validly elect out of the BBA can still change a previous partnership return merely by filing an amended return and do not need to submit an AAR.Partnerships subject to the BBA centralized partnership audit rules ordinarily must submit a filing called an administrative adjustment request (AAR) to revise a previous tax return. The Bipartisan Budget Act (BBA) of 2015 changed how partnerships make adjustments to previously filed partnership returns. ![]()
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