The IRS has announced a new website “intended to be one-stop location for anything BBA-related, including regulations and other guidance and instructions related to the Partnership Representative (PR), electing out of the centralized audit regime, Administrative Adjustment Requests (AARs) and what to expect during a BBA administrative proceeding.” IR-2020-199 (9/1/20), here. The web site, titled “BBA Centralized Partnership Audit Regime” is here.
As of now, the web site has categories for links for (i) Filing Requirements, (ii) BBA Partnership Audit, (iii) Regulations and Interim Guidance, and (iv) a handy chart comparing partnership procedures under TEFRA and BBA.
This web page will be a key resource for the “BBA Centralized Partnership Audit Regime.”
I will try to go through the linked items in advance of the 2021 editions of the Federal Tax Procedure Book.
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