Bradley Partner Bruce Ely Quoted in Law360 on Adopting Model State Statute for Partnership Audits


Media Mention

Bradley attorney Bruce Ely was quoted in Law360 on a recommendation that the Multistate Tax Commission (MTC) should formally adopt a model statute that addresses how states could handle partnership audits in the wake of new federal audit rules. The report of the hearing officer, MTC general counsel Helen Hecht, was the last step for the model statute before the MTC’s executive committee takes it up at its meeting in November and the tax professionals who endorsed it can begin working with dozens of state legislatures in the hope that they will craft legislation based upon it.

Ely, a co-author of the model statute, said he appreciated Hecht’s report.

“I think she approves of the draft model act, but she added a suggestion for inserting drafter’s notes. That’s something most of us thought was a good idea from the start,” Ely said, adding that he hoped for approval at the MTC fall meeting next month.

Ely said Hecht was a sound choice for hearing officer.

“It certainly was a good sign for us that Helen was appointed the hearing officer for this project, with her Subchapter K [partners and partnerships] expertise and after having spent well over two years working on the model act with a large number of diverse parties,” Ely explained.

The complete article, “Adopt Model Statute For Partnership Audits, MTC Officer Says,” appeared in Law360 on October 29, 2018.