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New Partnership Level IRS Audit Rules: Designate Your Partnership Representative and Modify Your Partnership Agreement

AAFCPAs would like to make clients aware that, effective for partnership tax years beginning after December 31, 2017, the IRS instituted new partnership level audit rules.  Specifically, any adjustment to items of income, gain, loss, deduction, or credit of the partnership during a partnership’s tax year, upon audit, will be assessed and collected at the partnership level rather than at the partner level. AAFCPAs advises clients to designate a Partnership... continue reading

The Ideal Firm to Transition to at Any Point in Your Career

By Matthew Andersen, CPA, Manager I joined AAFCPAs in March 2015 as a Tax Supervisor after eight years at a Big Four CPA firm.  AAFCPAs is an attractive alternative to the Big Four because they are independent and regional, while still having national and global reach­­­— the best of both worlds! AAFCPAs has the same resources and expertise as national firms.  I work with diverse, emerging, growth-stage partnerships and corporations... continue reading