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James Gadwood Comments on Final Partnership Representative Regulations in Daily Tax Realtime

Subtitle
"IRS Transfers Power to Partnerships in Final Regulations"

Daily Tax Realtime

Jim Gadwood commented on the IRS's final regulations regarding the partnership representative that must be designated under the centralized partnership audit regime. The final regulations reflect helpful changes from the proposed regulations. "The changes really seem aimed at providing as much flexibility and control over the partnership representative designation process as Treasury could provide," Gadwood said. "Overall I think they did a nice job with this."