2020 IRS Publication 5388-2026

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The document outlines the procedures and timelines for the Bipartisan Budget Act (BBA) regarding partnership tax filings and audits. It details the automatic BBA status for partnerships starting from 2018, the audit process including examination notices and adjustments, and the roles of the Partnership Representative. Additionally, it explains taxpayer notifications, appeal processes, and options for partnerships to either pay or push out adjustments to partners.

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Click ‘Get Form’ to open the 2020 IRS Publication 5388 in the editor.
Begin by reviewing the sections related to filing and audit selection. Ensure you understand the criteria for partnerships automatically classified under BBA.
Fill in your partnership details in the designated fields, including the Partnership Representative (PR) who will act on behalf of your partnership.
If applicable, indicate whether you are electing out of BBA by checking the appropriate box and providing any necessary documentation.
Complete any modification requests if you wish to reduce the imputed underpayment amount shown on the Notice of Proposed Partnership Adjustment (NOPPA).
Review all entries for accuracy before saving or exporting your completed form for submission.

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What are eligible expenses for IRS publication 503?

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