The IRS has revised the standard forms (Forms 872 and 872-A) used to extend the statute of limitations for the IRS to make assessments. The revisions broaden the coverage of these extension forms.

A taxpayer who signs a revised extension form gives the IRS more time to assess, not only with respect to items the agent is examining on the taxpayer's return, but also for any adjustments to the taxpayer's return that may result from the examination of any TEFRA partnership in which the taxpayer owns an interest.

This article covers the IRS revision of the standard forms used to extend the statute of limitations for their assessments and the affect on TEFRA partnerships.