By Megan L. Brackney
Journal of Passthrough Entities
January - February 2013
There are many situations where a partnership may want to change its Tax Matters Partner (“TMP”). Treasury Regulations and case law describe circumstances such as the death, dissolution, bankruptcy or criminal prosecution of the TMP where the TMP designation is automatically terminated. The partnership also may have other reasons for wanting to change its TMP, including conflicts of interest or lack of faith in the TMP’s ability to discharge his or her duties or in the TMP’s judgment. This column describes the procedures for termination and replacement of the TMP before the IRS and after a partnership matter has been docketed in Tax Court.