Congress has allocated approximately $80 billion to Internal Revenue Service (IRS) audits and enforcement. After the Bipartisan Budget Act of 2015 (BBA), the IRS has heightened its focus on tax partnerships, Form 1065, and the accompanying schedules.
Recent developments in legislation, regulatory guidance, and IRS enforcement are facilitating greater transparency and enabling the IRS to streamline compliance and enforcement. The IRS is focusing on specifics of Form 1065 and the associated schedules.
This course will help you be proactive and prepare by identifying areas of audit risk and ways to address previously filed tax returns. It will cover how a partnership can remedy a missing partnership representative designation, what the IRS can do in these cases, and how a partnership representative can be replaced.
Learning Objectives:
Petrova Law PLLC
Managing Attorney
petrova@petrovalaw.com
(336) 310-1210
Allie Petrova is the founder and managing attorney of Petrova Law PLLC, a boutique law firm focused exclusively on tax and transactional matters. Clients benefit from Ms. Petrova’s acumen and experience in handling complex tax issues. In the tax controversy arena, Ms. Petrova counsels clients involved in civil examinations, administrative appeals, and tax collection matters. Allie dedicates a substantial portion of her practice to M&A transactions and negotiates complex business agreements.
Ms. Petrova is a frequent speaker at American Bar Association Tax Section meetings and has presented at the J. Nelson Young Tax Institute. In the media, Allie has been quoted in CNBC, MSN Money, The Huffington Post, The Street, Super Money, and the U.S. News and World Report.
Ms. Petrova is the current Chair of the American Bar Association’s Closely Held Businesses Committee. She was recognized by Super Lawyers as a Rising Star and as Legal Elite by North Carolina Business Magazine in 2018-2021. In 2020, Ms. Petrova was also recognized by Best Lawyers in America and was awarded the Nolan Fellowship by the American Bar Association’s Section of Taxation.
Previously, Allie advised private equity and Fortune 500 clients on acquisitions and reorganizations in the Transaction Tax (M&A) group of Ernst & Young at its New York headquarters and practiced with a transactional North Carolina law firm.
Allie Petrova is a member of the United States Tax Court Bar and the United States Supreme Court Bar. Allie earned her J.D. and LL.M. in Taxation degrees from the Georgetown University Law Center. She also holds a bilingual LL.M. degree in International Economic Law from The Sorbonne in Paris and has presented on tax law internationally.
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CPAacademy.org (Sponsor Id#: HURS9) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222