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 and their implications for partnerships like the Access Fund. It outlines the potential tax liabilities for current and former partners and the possibility of adverse tax consequences due to the BBA Rules. The document also highlights other tax risks associated with investing in the Access Fund, including changes in tax laws and the potential for substantial taxation.
doj/DataSet10/EFTA01386592.pdf
{"key_people":["General Partner"],"document_type":"financial","document_subtype":"tax legislation summary","key_organizations":["Southern Financial LLC","Access Fund"],"reference_numbers":["DB-SDNY-0088354","SDNY_GM_00234538","EFTA01386592"]}