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. It outlines the potential tax liabilities for partnerships and partners, the elective alternative procedure, and the responsibilities of the Access Fund and its partners. It also highlights other tax risks associated with investing in the Access Fund, including changes in tax laws and the potential for substantial taxation.
documents/vol00010-efta01354202-pdf.pdf
{"key_people":["Henry Nicholas"],"document_type":"legal","document_subtype":"tax legislation summary","key_organizations":["Access Fund"],"reference_numbers":["GLDUS143"]}