The IRS has released the final version of the 2018 Form 1065 (U.S. Return of Partnership Income) and draft instructions for that form.

The form incorporates changes made by the Tax Cuts and Jobs Act (TCJA) and the new centralized partnership audit regime. For example, the check box for technical terminations has been removed to reflect the TCJA’s elimination of that provision.

Also, the form:

(1) allows partnerships to make an Administrative Adjustment Request (AAR) imputed underpayment;

(2) contains a new section where the partnership representative (as opposed to the tax matters partner) is designated; and

(3) asks new questions regarding the business interest limitation under IRC Sec. 163(j).

The form is available at www.irs.gov/pub/irs-pdf/f1065.pdf.