Behind the Audit Curtain: Demystifying the CPAR Regime

Overview

The IRS's new Centralized Partnership Audit Regime shifts much of the audit burden onto partnerships themselves. Colin Walsh, partner at Baker Tilly, explains that the rules introduce new adjustment options, heighten potential costs and complicate filing decisions. He offers broad strategies for navigating the change and emphasizes the need for an engaged partnership representative as the guidance and enforcement landscape keeps evolving.