Caution: TEFRA audits require extreme care

09/24/2013 | Tax Adviser, The

The Taxpayer Equity and Fiscal Responsibility Act was supposed to make examinations of partnerships more efficient by introducing partnership-level audits, but the TEFRA rules are difficult to apply and complex for both taxpayers and the Internal Revenue Service. Josh Wheeler, CPA, discusses what partners and their advisers should watch out for during a TEFRA audit.

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Tax Adviser, The

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