Centralized Partnership Audit Regime - General Overview
Date: Wednesday, July 30, 2025
Instructor: A.J. Reynolds
| Begin Time: |
9:00am Pacific Time
10:00am Mountain Time
11:00am Central Time
12:00pm Eastern Time |
| CPE Credit: |
1 hour for CPAs
1 hour Federal Tax Related for EAs and OTRPs
1 hour Federal Tax Law for CTEC |
|
NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
The Partnership Centralized Audit Regime (CPAR), also known as the Bipartisan Budget Act (BBA) of 2015, is a set of rules that govern how the Internal Revenue Service (IRS) audits and adjusts the tax liability of partnerships. Prior to the CPAR, the IRS had to audit each partner individually, which was a complex and time-consuming process. The CPAR was introduced to simplify and streamline the partnership audit process.
Who Should Attend
All Tax Professionals that prepare Partnership and LLC Form 1065 tax returns.
Topics Covered
- Importance of “PR” and partnership agreement
- Discussion who can or cannot elect out Audit Regime
- Audits of Partnership
- Synopsis of an Administrative Adjustment Request (AAR)
- Breakdown Statute of Limitations
Learning Objectives
- Summarize 2015 BBA
- Analysis of importance of partnership agreement
- Outline who can elect out of CPAR
- Define who cannot elect out of CPAR
- Summarize filing an AAR
- Understand issues partnerships run into due to CPAR
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Regulatory Ethics (1 hour)
Program Prerequisites
None
Advance Preparation
None
