2023 Laws of Puerto Rico › TITLE THIRTEEN - Taxation and Finance (§§ 1 — 33423) › Subtitle 17 - Internal Revenue Code of 2011 (§§ 30001 — 33423) › PART VII - Administrative Provisions, Procedures, Interests, Penalties, and Additions to Taxes (§§ 33001 — 33423) › Chapter 1070 - Provisions Applicable to Partnerships and Members (§§ 33414 — 33423) › § 33415 - Partner return must be consistent with partnership return

(a) A partner shall, on the partner’s return, treat each partnership item attributable to such partnership in a manner which is consistent with the treatment of such partnership item on the partnership return.
(b) Underpayment due to inconsistent treatment assessed as math error.— Any underpayment of tax by a partner by reason of failing to comply with the requirements of subsection (a) shall be assessed and collected in the same manner as if such underpayment were on account of a mathematical or clerical error appearing on the partnership’s return. Section 33002(g)(2) of this title shall not apply to any assessment of an underpayment referred to in this subsection.
(c) Adjustments not to affect prior year of partners.—
(1) In general.— Except as provided in clause (2) of this subsection, subsections (a) and (b) shall apply without regard to any adjustment to the partnership item under §§ 33417-33422 of this title.
(A) Certain changes in the distributive share taken into account by partner.
(B) In general.— To the extent that any adjustment under §§ 33417-33422 of this title involves a change under § 33418 of this title in the distributive share of partner of the amount of any item of the partnership shown on the partnership return, such adjustment shall be taken into account in applying the Code to such partner for the partner’s taxable year for which such item was required to be taken into account.
(C) Coordination with deficiency procedures.—
(i) In general.— No penalty provided for in this Code shall apply to the assessment or collection of any underpayment of tax attributable to an adjustment referred to in paragraph (A) of this clause.
(ii) Adjustment not precluded.— Notwithstanding the foregoing, the provisions of subparagraph (i) of this paragraph shall preclude the assessment or collection of any underpayment of tax or the allowance of any credit or refund of any overpayment of tax attributable to an adjustment referred to in paragraph (A) of this clause and such assessment or collection or allowance (or any notice thereof) shall not preclude any notice, proceeding, or determination of a penalty.
(D) Period of limitations.— The period for:
(i) Assessing any underpayment of tax, or
(ii) filing a claim for credit or refund of any overpayment of tax, attributable to an adjustment referred to in paragraph (A) of this clause shall not expire before the close of the period prescribed by § 33420 of this title for making adjustments with respect to the partnership taxable year involved.
(E) Tiered structures.— If the partner referred to in paragraph (A) of this clause is another partnership or a corporation of individuals, the rules of this paragraph shall also apply to persons holding interests in such partnership or corporation of individuals (as the case may be)..
(d) Addition to tax for failure to comply with this section.-For addition to tax in case of partner’s disregard of requirements of this section, see §§ 33072, 33074 and 33078 of this title.
History —Jan. 31, 2011, No. 1, added as § 6100.02 on Dec. 10, 2011, No. 232, § 186.