Mary McNutly Quoted in Tax Notes Today on Large Partnership Audits

“WILKINS PROPOSES SOLUTION TO LARGE PARTNERSHIP AUDIT DILEMMA” ; November 13, 2014
 
One way to make it easier for the IRS to audit large partnerships, such as many hedge funds and private equity funds, would be to push audit adjustments up one level, according to IRS Chief Counsel William J. Wilkins.

But Mary A. McNulty of Thompson & Knight LLP pointed out that C corporation shareholders don’t directly pay the tax owed by the C corporation.