Form 7004 will preserve a partnershipвЂ™s ability to file a superseding original return if needed to correct an item on Form 1065 up to the extended due date for filing the Form 1065.Superseding a return will eliminate the need to go through the AAR process so that the partnership does not have to remit tax, interest, and penalties. While partnerships subject to CPAR cannot file an amended return, they can file a superseding return through the due date of the return.The determination of any underpayment involves a complicated process (see discussion below) that involves grouping and allocating the items that have changed on the return.If the adjustments on Form 8082 result in an imputed underpayment, the partnership is, for the most part, required to pay the imputed underpayment and any interest and penalty associated with the imputed underpayment at the time of filing.Instead, CPAR partnerships report changes to a Form 1065 on Form 8082, Administrative Adjustment Request (AAR).Beginning with the 2018 tax year, partnerships subject to CPAR in general cannot file an amended return to report any changes to a previously filed partnership tax return.

This article focuses on the procedures that CPAR partnerships must follow to report changes to a previously filed Form 1065 for tax years beginning after Dec.

Authored by Mark Heroux, Colin Walsh, Brad Polizzano and Joe HeislerД«eginning with the 2018 tax year, partnerships subject to the centralized partnership audit regime (CPAR) in general cannot file an amended return to report any changes to a previously filed partnership tax return.

1065 tax form 2015