ABA's 2025 Midyear Tax Meeting

ABA's 2025 Midyear Tax Meeting

• JW Marriott Los Angeles LA LIVE
• Wednesday, February 19, 2025 8:00 AM - Friday, February 21, 2025 6:00 PM PST

Kate Kraus will present "Partnership Audit Rules (BBA) – Federal and State Tax Considerations, Including Partnership Terminations" at the ABA's 2025 Midyear Tax Meeting on February 21, 2025.

As the IRS conducts partnership audits applying the procedures set forth in the BBA, affected businesses and individuals will have SALT considerations in adjustments that affect the reporting of entity and individual tax reports. Even in states where there is no individual income tax, entity level taxes are affected by the adjustments made in federal tax audits. In addition, states that model their passthrough taxes after the federal tax regime are directly impacted in tax administration. This panel will start of with a summary of the BBA partnership audit rules, and how they are being implemented, and then delve into the SALT implementation to compare/contrast their state counterparts. If time permits, the discussion will include a brief synopsis of the MTC’s Partnership Tax Project.

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