The document discusses the impact of the Bipartisan Budget Act of 2015 on U.S. federal income tax audits of partnerships, specifically focusing on the BBA Rules. It explains how audits will be conducted at the partnership level and the implications for tax liabilities and adjustments. The document also outlines the potential tax risks for Limited Partners investing in the Access Fund, including adverse changes in tax laws and the possibility of substantial taxation.
doj/DataSet10/EFTA01392374.pdf
{"key_people":["Patrick Gerschel"],"document_type":"legal","document_subtype":"tax legislation summary","key_organizations":["Access Fund"]}