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Richey May Advisory provides the full spectrum of transformative solutions for your business. From Technology and Risk Management to Specialty Audit Services and more, Richey May Advisory has the solutions you need to find and focus on your competitive advantage.

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Richey May Advisory

Richey May Advisory provides the full spectrum of transformative solutions for your business. From Technology and Risk Management to Specialty Audit Services and more, Richey May Advisory has the solutions you need to find and focus on your competitive advantage.

Learn More

Contact Us

Richey May Headquarters
9780 S Meridian Blvd., Suite 500
Englewood, CO 80112
Directions
303-721-6232

Question or comments?  Click here to fill out our inquiry form.

Richey May Advisory

Richey May Advisory provides the full spectrum of transformative solutions for your business. From Technology and Risk Management to Specialty Audit Services and more, Richey May Advisory has the solutions you need to find and focus on your competitive advantage.

Learn More

Richey May Advisory

Richey May Advisory provides the full spectrum of transformative solutions for your business. From Technology and Risk Management to Specialty Audit Services and more, Richey May Advisory has the solutions you need to find and focus on your competitive advantage.

Learn More

Contact Us

Richey May Headquarters
9780 S Meridian Blvd., Suite 500
Englewood, CO 80112
Directions
303-721-6232

Question or comments?  Click here to fill out our inquiry form.

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Richey May Headquarters
9780 S Meridian Blvd., Suite 500
Englewood, CO 80112
Directions
303-721-6232
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Partnership Operating Agreements: Amendments Needed in 2018

Articles by: Richey May, May 22, 2018

All businesses operating as partnerships for federal income tax purposes need to amend their operating/partnership agreements in 2018 to address new IRS audit procedures that significantly change how partnerships are audited and additional tax assessments are made. Whether or not you operate a business as a partnership or simply invest in partnerships, these new rules may require current partners in a partnership to pay any additional taxes, interest and penalties attributable to an IRS examination of a prior year in which they were not a partner in the partnership. Provisions may be added to partnership agreements to address some of the financial inequities of these new rules.

To learn more about the new procedures and how they are relevant to your partnership, download the following PDF:

Partnership Operating Agreements: Amendments Needed in 2018

The Richey May tax team is available to consult with you and your legal team in addressing the new audit rules in amended operating agreements. Please reach out to us at info@richeymay.com with any questions you may have regarding these changes.