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 how audits will be conducted at the partnership level and the potential tax liabilities for partners if the Access Fund does not elect an 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 of the Access Fund or Limited Partners.
doj/DataSet10/EFTA01392012.pdf
{"key_people":["Glenn Warren"],"document_type":"legal","document_subtype":"tax legislation summary","key_organizations":["Access Fund"],"reference_numbers":["DB-SDNY-0097155","SDNY_GM_00243339","EFTA01392012"]}