Should a CPA Agree to Be a Partnership Representative?

 – April 9, 2019
Should a CPA Agree to Be a Partnership Representative?

Changes to the partnership audit rules, enacted through the Bipartisan Budget Act of 2015, took effect this busy season. Even with fair warnings regarding the importance of these changes, many partnership clients have found themselves, and their tax preparer, scrambling to comply with the new rules.

  • Form 1065 requires the identification of the partnership representative.
  • Tremendous responsibility is entrusted to this person.
  • Some clients may ask their CPA to fulfill this role.
  • CPAs may fill in their own name while preparing the return.
Before taking any action to be named as partnership representative, CPAs should read this alert to understand the substantial risks faced by CPAs who choose to take on this role.

Read the full Risk Alert