Implications of TEFRA Repeal on State and Local Taxes



Alysse McLoughlin, Richard Call and Nicole Ford wrote this bylined article about the impact of repeal of the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) on unified partnership audit rules. The repeal represents “a sea change for federal partnership audits,” because “it contains significant implications–both substantive and procedural–with respect to the state tax treatment of entities taxed as partnerships,” the authors wrote.