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Partnership Audits

Updated January 2020

The issue

In 2015, Congress passed changes to the partnership audit rules included in the Internal Revenue Code. The new changes were effective Jan. 1, 2018 and IRS audits under the new regulations have started. The new changes allow the IRS to assess and collect partnership audit adjustments at the entity level. 

Minnesota will need to conform with the federal changes so partnerships will be allowed to use the entity pay option.

MNCPA supports the model legislation to update Minnesota's partnership audit regulations and create a system partnerships can use. 

Why you should care

CPAs work with or for many businesses that are organized as partnerships. Uniform reporting standards reduce complexity and compliance costs while providing certainty for partnerships whose partners may be in multiple taxing jurisdictions. 

What you can do

Contact your legislators and ask them to support model legislation that would provide uniform application of the partnership audit rules and reduce complexities for taxpayers and tax administrators. 

Influencing positive change

MN State Capitol

With the help of your donations to the MNCPA PAC, we have had great success at the Capitol throughout the past decade.

Reasons to contribute:

  • Carry a unified message on CPA issues to legislators.
  • Raise CPAs' visibility at the Capitol.
  • Continue the proven track record of success.

Contribute to the PAC