Reporting Federal Audit Adjustments
For Partnerships Audited By IRS
Partnerships may be audited by the IRS under the federal partnership audit regime enacted within Bipartisan Budget Act of 2015. If your federal tax attributes change after the audit, the partnership or partners in the reviewed year must report it to the Minnesota Department of Revenue.
How do we report adjustments?
The partnership or partners must file amended Minnesota returns for the years that changed. Who files depend on who originally paid the department.
Amended Minnesota returns must be filed within 180 days after the federal final determination date. Tax due resulting from the change must be paid at the time of filing.