Definition of Reviewed Year


Reviewed Year means the taxable year of a Partnership that is subject to a Partnership Level Audit from which Federal Adjustments arise.

Examples of Reviewed Year in a sentence

All Reviewed Year Partners will reasonably cooperate with the Tax Representative and will provide to the Tax Representative all Partner information necessary to make this election.
Policies and Related Procedures to be Reviewed: Year 1 - A1-A4, B1-B7, C1-C10, D1-D15, E1-E8, and F1-F4.
Except as provided in Subsection B(2), a Taxpayer shall file by filing a Federal Adjustments Report with the [State Tax Agency] for the Reviewed Year and, if applicable, paying the additional [State] tax owed by the Taxpayer no later than 180 days after the Final Determination Date.
With the approval of the Executive Committee, the Tax Representative may elect under Code Section 6226 and its related Treasury Regulations to cause any Partners affected by an IRS adjustment in an audited tax year or years (the "Reviewed Year Partners") to take into account the adjustments made by the IRS and to pay any tax, interest, and penalties due as a result of those adjustments.
Except as provided in subsection B(2), a Taxpayer shall file a Federal Adjustments Report with the [State Agency] for the Reviewed Year and, if applicable, pay the additional [State] tax owed by the Taxpayer no later than 180 days after the Final Determination Date.