We've been working with the centralized partnership audit regime (CPAR) for more than a year, but key challenges remain regarding the application of federal rules at the state level. In this episode, you'll find out why it matters and how the American Institute of CPAs (AICPA) and other organizations are advocating for taxpayers and tax practitioners. AICPA Senior Manager Eileen Sherr sits down with host Damien Martin to discuss the Multistate Tax Commission's (MTC) Model Uniform Statute and Regulation for Reporting Adjustments to Federal Taxable Income and Federal Partnership Audit Adjustments (model statute) aimed at unifying state approaches to the centralized partnership audit procedures. Learn which states are considering and enacting legislation that addresses the significant changes under the CPAR. Take a look at what's covered: Meet Eileen Sherr @01:06 Overview of the CPAR @02:14 State considerations @04:34 Key players and contributions @05:59 Description of the MTC's model statute @08:46 The desire for flexibility @13:34 Why a model statute is important @15:02 How the AICPA is advocating for taxpayers and tax practitioners @15:49 Eileen's experience creating the model and expectations for the future @18:13 How listeners can get involved @21:34 What we've seen so far in 2020 @24:48 Learn more about Eileen and get additional resources here. GET MORE "SIMPLY TAX" We're excited to also provide video content to strengthen your tax mind! Check it out on our YouTube channel. A complete archive of our episodes is available on our website and YouTube playlist. We'd love to hear from you! Email feedback and questions to [email protected]. Connect with Damien on social media! LinkedIn | Twitter | Instagram | YouTube

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