Bradley Partner Bruce Ely Quoted in Law360 on Concerns about Proposed Partnership Audit Regulations

State and Local Tax (SALT) attorney Bruce Ely was quoted in Law360 on concerns about partnership audit rules recently issued by the IRS. Of particular concern is the treatment of the so-called partnership representative, who is given broad powers under the rules but whose designation as “representative” is difficult to revoke. This approach is “serious overreach,” explained Ely, co-chair of a task force on the state implications of the audit rules within the American Bar Association.

“I think that that part of the regulations needs to be toned down,” said Ely, “There are some things that [Treasury officials] really need to reconsider and tone down if they want to make this thing truly administrable and not just a series of footfalls by partnerships or practitioners.”

The complete article, “Long-Awaited Partnership Audit Regs No Longer So Welcome,” appeared in Law360 on January 25, 2017. (login required)