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TREAS/IRS RIN: 1545-BN33 Publication ID: Fall 2016 
Title: Early Election Into the Partnership Audit Regime Under the Bipartisan Budget Act of 2015  

Under section 1101(g)(4) of Pub. L. No. 114-74, a partnership may elect (at such time and in such form and manner as the Secretary of the Treasury may prescribe) for certain amendments under Pub. L. No. 114-74, section 1101 to apply to any return of a partnership filed for a partnership taxable year beginning after November 2, 2015 (the date of the enactment of the BBA) and before January 1, 2018. This proposed regulation provides the time, form, and manner of the election.

Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 26 CFR 31   
Legal Authority: 26 U.S.C. 7805    Pub. L. 114-74, sec 1101(g)(4).   
Legal Deadline:  None
Action Date FR Cite
NPRM by Cross-Reference to Temporary Regulations  08/05/2016  81 FR 51835   
NPRM by Cross-Reference to Temporary Regulations Comment Period End  10/04/2016 
Final Action  06/00/2017 
Additional Information: REG-105005-16 (NPRM) Drafting attorney: Jennifer Black (202) 317-5216 Reviewer attorney: Gregory Armstrong (202) 317-5131 Treasury attorney: Rochelle Hodes (202) 622-1787 CC:PA:Branch 7
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Jennifer Black
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW.,
Washington, DC 20224
Phone:202 317-5216