New Legislation Makes Sweeping Changes Affecting All Partnerships

The recently enacted Bipartisan Budget Act of 2015 (the Act) completely overhauls the procedures for examining partnership returns and collecting resulting deficiencies. The impact of these provisions is significant today because they will affect all existing and new partnerships that expect to be in existence in and after 2018. 

Please join us for a one-hour webinar as our presenters—two of which are authors of the treatise Federal Taxation of Partnerships and Partners—discuss the key aspects of the Act and the effect that the provisions will have on partnerships and their partners.

Topics will include:

• Whether and how to preserve the status-quo tax risk allocation in a partnership
• Considerations for negotiating new partnership arrangements as well as for revisions to existing arrangements
• Issues specific to partnerships involved in private equity, investment management, alternative energy, oil and gas, real estate, and specialized joint ventures
• Changes to documents such as offering memoranda, prospectuses, and partnership and LLC agreements as well as financing documents necessitated by these changes

For more information, please contact Leah Rosenblum at lrosenblum@morganlewis.com or +1.215.963.4691.