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 Access Fund and its partners. It outlines the potential tax liabilities and adjustments that may arise under the BBA Rules and the elective alternative procedure. The document also highlights other tax risks associated with investing in the Access Fund, including changes in tax laws, filing requirements in various jurisdictions, and potential taxation impacts.
doj/DataSet10/EFTA01391092.pdf
{"key_people":["General Partner"],"document_type":"financial","document_subtype":"tax legislation summary","key_organizations":["Third Lake Capital","Access Fund"],"reference_numbers":["DB-SDNY-0095828","SDNY_GM_00242012","EFTA01391092"]}