Posts from March 2019.

Form 1066, U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return, updated to allow taxpayers, under Designation of Partnership Representativ, to enter all 0s (example: 00-0000000 or 000-00-0000) for the TIN of the partnership representative and designated individual (if applicable).  A preparer tax identification number (PTIN) or centralized authorization file (CAF) number may not be used as a TIN to designate a partnership representative or designated individual.  The IRS noted that the instructions will reflect this change in the next revision of the form. 

Form 8981, Waiver of the Period Under IRC Section 6231(b)(2)(A) and Expiration of the Period for Modification Submissions Under IRC Section 6225(c)(7), and Form 8984, Extension of the Taxpayer Modification Submission Period Under Section 6225(c)(7), released March 14 to reflect changes to partnership audit rules under the 2015 BBA.

Form 8981 allows the partnership representative to waive the restriction on mailing the notice of final partnership adjustment (FPA) described in tax code Section 6231(b)(2)(A). Form 8984 is used to request an extension of the 270-day modification ...

A New Era of Partnership Representation Before the IRS

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