Tax Notes Quotes Charles Ruchelman on New Tax Laws for Partnerships at D.C. Bar Panel
Tax Notes Today quotes Charles M. Ruchelman's recent D.C. Bar panel discussion which addressed new tax laws relating to IRS examination of and tax collection from partnerships. For the complete article, please visit Tax Notes Today's website (subscription required).
Excerpt taken from the article "Drafters Hash Out New Partnership Audit Rules" by Amy Elliott for Tax Notes Today.
Speaking at a meeting of the District of Columbia Bar Taxation Section, Charles M. Ruchelman of Caplin & Drysdale Chtd. said the new partnership audit rules "effectively outsource the collection function from the IRS to the partnership itself," adding that if it turns out that the rules work, partnerships should expect to see "quite a few more IRS examinations" because it will be easier for the IRS to process partnership-level adjustments and collect the taxes due at the end of an examination.