The document discusses the implications of the Bipartisan Budget Act of 2015 on U.S. federal income tax audits of partnerships, specifically focusing on the BBA Rules. These rules require audits to be conducted at the partnership level, with adjustments payable by the partnership unless an alternative procedure is elected. The document outlines potential tax liabilities for partners and the Access Fund, and advises prospective investors to consult tax advisors due to the complex tax considerations involved.
doj/DataSet10/EFTA01391375.pdf
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