Behind the Audit Curtain: Demystifying the CPAR Regime ON DEMAND

Overview

The IRS’s new Centralized Partnership Audit Regime shifts much of the audit burden onto partnerships themselves. Colin Walsh, partner at Baker Tilly, explains that the rules introduce new adjustment options, heighten potential costs, and complicate filing decisions. He offers broad strategies for navigating the change and emphasizes the need for an engaged partnership representative as the guidance and enforcement landscape keeps evolving.

Highlights

IRS compliance guidelines automation for accountants. Federal tax updates. Artificial intelligence in accounting. Internal controls. Audit report writing. Tax planning strategies.

Prerequisites

None.

Designed For

CPAs and auditors.

Objectives

Identify the core shifts CPAR makes to partnership audit liability and administration, including the concept of the imputed underpayment. Recognize scenarios where negative or positive adjustments affect partners’ tax obligations. Distinguish among push out statements, imputed underpayment modifications, and AAR filings when choosing a compliance approach. Select effective strategies for appointing and empowering a partnership representative to manage CPAR examinations and subsequent IRS interactions.

Preparation

None.

Notice

None.