SB 897 - This act requires a partnership that is audited by the IRS and deemed to have an imputed underpayment to file a return with the Department of Revenue that shows the adjustments to income or the gain, loss, or deduction on which the federal imputed underpayment was based. Such return shall be filed within ninety days after the final determination regarding adjustment by the IRS. The partnership shall pay the tax on the adjustment in lieu of passing the adjustment through to the partners, as described in the act. JOSHUA NORBERG