Page 73 - The TEFRA Partnership Audit Rules Repeal:

ALI CLE Live Video Webcast / “The TEFRA Partnership Audit Rules Repeal: Partnership and Partner Impacts” June 7, 2016, Jerald David August and Terence Floyd Cuff
f. Items are Pushed Out for the Year in which the
Partner Receives Statement of Adjustments. ............................. 131
g. Summary of Push Out Regime.................................................. 248
14. Amendment of Partnership Return..................................................... 135
15. Administrative and Collection Procedures
Under the Centralized Partnership Audit Regime ............................... 258
a. Notices of proceedings and adjustment..................................... 258
b. Administrative Adjustment Request.......................................... 264
c. Interest on Underpayments. ..................................................... 270
d. Penalties. ................................................................................. 271
e. Assessment of Imputed Underpayment..................................... 272
f. Several liability of partners or members.................................... 276
g. Partnership Ceases to Exist...................................................... 278
h. Nondeductible Payments. ......................................................... 286
i. No Adjustment at Partner Level. ............................................... 286
j. District Court Challenge and Deposit. ...................................... 286
k. Statute of Limitations. .............................................................. 152
l. Jurisdiction in Controversy. ..................................................... 295
16. ASC 740-10, FIN 48 issues. ............................................................... 296
a. In General. ............................................................................... 296
b. FIN 48’s Two Part Process. ....................................................... 298
c. Reserves for Foreign Tax Liabilities. .......................................... 300
d. Tax Position Requirement......................................................... 159
e. Role of Management of Entity Subject to
ASC 740-10 (FIN 48). ............................................................... 302
f. Application of ASC 740-10 (FIN 48) to
Imputed Underpayments of a Partnership
for Reviewed Years. .................................................................. 303
17. Assessment, Collection and Payment ................................................. 305
18. Interest.............................................................................................. 307
19. Penalties............................................................................................ 309
© Terence Floyd Cuff and Jerald David August, 2016
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