IRS Audits of Partnerships – are they likely to increase in frequency?
Articles by: Richey May, Sep 16, 2015
If you operate as a partnership in the real estate industry, chances are you’ve probably avoided the dreaded IRS audit. And even if you did, it’s likely that the audit resulted in a “no change” letter and you came out largely unscathed. Partnerships, with their complex structures and often multiple partners, present an administrative challenge to the IRS during the audit process. But there are signs that this may change, and IRS audits of partnerships may be on the rise as soon as the 2017 tax year.