Good morning!

For each of my three small partnerships, the partners are married (and there are no other partners), I advise electing out of CPAR. I advise them that without the election, the future partners would be responsible for a tax resulting from an audit in a prior year.  When I mention an audit, they get concerned.  I want them to understand CPAR so they are informed.  The partners are laypeople without much experience in tax issues.  They accept my advice.