Partnership Representatives Play An Important Role
At US Partnership Representative, Inc. you can be confident in the experience, skill and resources our tax advocates bring to the crucial role of the partnership representative. We have a proven track record of successfully resolving tax issues and protecting the interests of our clients through the law firm Moore Tax Law Group, LLC.
What Does A Partnership Representative Do?
A partnership representative has sole and absolute authority to act on behalf of the partnership for all purposes with the IRS. This means a partnership representative must determine when and whether to engage an attorney to represent the partnership before the IRS, when and whether to extend the statute of limitations to assess tax, communicate with the IRS during IRS exams including responding to Information Document Requests, meet with the IRS (if appropriate) in the United States, and either agree to proposed changes in an IRS exam or dispute any tax deficiency the IRS determines in the proper litigation forum.
In short, the Partnership Representative is the final word in all IRS matters and must be well-versed in IRS procedures in order to effectively represent the partnership.
How Partnership Representatives Can Be Changed
Once designated on IRS Form 1065, U.S. Return of Partnership Income, the partnership representative cannot be changed unless the IRS initiates an examination of the partnership or an Administrative Adjustment Request (AAR) is filed. It is crucial to consider this when deciding who to name as a partnership representative. If they leave the partnership, it cannot be changed as a result of their departure unless the aforementioned circumstances are met.