If the club opts out, how does IRS know who the Partnership Representative person is?
On Form 1065 Sch. B, the PR person has to be identified only if the club didn't opt out.
Also, does IRS need, besides Form B-2, signatures of all partners?
If a club opts-out there is no partnership representative. The IRS must institute an audit by auditing the individual partners. Signatures of the partners are not required to opt-out, only a completed Schedule B-2.
Ira Smilovitz, EA