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Richey May Technology Solutions provides the full spectrum of transformative solutions for your business.

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Business Advisory

Specializing in Mergers & Acquisitions, management reporting and operational improvements for you business.

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Technology Solutions

Richey May Technology Solutions provides the full spectrum of transformative solutions for your business.

Learn More

Business Advisory

Specializing in Mergers & Acquisitions, management reporting and operational improvements for you business.

Learn More

Contact Us

Richey May Headquarters
9605 S. Kingston Ct. Suite 200
Englewood, CO 80112
Directions
303-721-6232

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

Technology Solutions

 

Richey May Technology Solutions provides the full spectrum of transformative solutions for your business.

Learn More

Business Advisory

Specializing in Mergers & Acquisitions, management reporting and operational improvements for you business.

Learn More

Technology Solutions

 

Richey May Technology Solutions provides the full spectrum of transformative solutions for your business.

Learn More

Business Advisory

Specializing in Mergers & Acquisitions, management reporting and operational improvements for you business.

Learn More

Contact Us

Richey May Headquarters
9605 S. Kingston Ct. Suite 200
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
9605 S. Kingston Ct. Suite 200
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.