State and Local Tax (SALT) attorney Bruce Ely was quoted in State Tax Notes on a Multistate Tax Commission (MTC) work group’s discussion of the new IRS partnership audit regime and what the role of the newly created partnership representative should be at the state level. A task force led by the American Bar Association Section of Taxation's State and Local Taxes
Committee and the AICPA's state tax working group has developed its own draft checklist for states considering conformity legislation.
“Our statutory checklist hasn’t been blessed by the ABA Tax Section simply because we wanted to quickly get something in the hands of the MTC and any state department of revenue contemplating conformity legislation soon,” Ely said. “The multi-page checklist we offer is a good illustration of why a detailed conformity bill is prudent – once we know what the federal statute will look like after the technical corrections bill passes.”
The complete article, “MTC Work Group Discusses Role of Partnership Representative at State Level,” appeared in State Tax Notes on February 1, 2017. (login required)