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2021 AICPA & CIMA National Tax & Sophisticated Tax Conferences with Private Foundation Summit

NTA2121 - Passthrough Arrangements: Partnership Tune-up Update

Nov 16, 2021 11:40am ‐ Nov 16, 2021 12:30pm

Standard: $49.00


A year of constant changes. This session will bring us back to important fundamentals that are easy to overlook among the complex issues passthroughs commonly encounter. What is a partnership for federal tax purposes? What is drafted in the operating agreement that should be looked over before certain elections are made? Why is a tune-up good practice given the intricacies and consequences of the centralized partnership audit regime? This session will cover these common threshold questions to ensure starting 2022 off on the right foot.

Learning Objectives:
  • Understand what is and is not a “partnership” for federal tax purposes
  • Understand common drafting issues in limited liability company (LLC) agreements
  • Understand implications of the centralized partnership audit regime (BBA) in the “tune-up”


Category: Concurrent Session Onsite and Online

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