PUBLIC LAW 105-34—AUG. 5, 1997 111 STAT. 1009 "SEC. 6240. APPLICATION OF SUBCHAPTER. "(a) GENERAL RULE. —This subchapter shall only apply to electing large partnerships aind partners in such partnerships. "(b) COORDINATION WITH OTHER PARTNERSHIP AUDIT PROCE- DURES. — "(1) IN GENERAL. —Subchapter C of this chapter shall not apply to any electing large partnership other than in its capacity as a partner in another partnership which is not an electing large partnership. "(2) TREATMENT WHERE PARTNER IN OTHER PARTNERSHIP.— If an electing large partnership is a partner in another partnership which is not an electing large partnership— "(A) subchapter C of this chapter shall apply to items of such electing large partnership which are partnership items with respect to such other partnership, but "(B) any adjustment under such subchapter C shall be taken into account in the manner provided by section 6242. "SEC. 6241. PARTNER'S RETURN MUST BE CONSISTENT WITH PARTNER- SHIP RETURN. "(a) GENERAL RULE. —^A partner of any electing large partnership 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 partner's return. Paragraph (2) of section 6213(b) shall not apply to any assessment of an underpayment referred to in the preceding sentence. "(c) ADJUSTMENTS NOT TO AFFECT PRIOR YEAR OF PARTNERS.— "(1) IN GENERAL.— Except as provided in paragraph (2), subsections (a) and (b) shall apply without regard to any adjustment to the partnership item under part II. "(2) CERTAIN CHANGES IN DISTRIBUTIVE SHARE TAKEN INTO ACCOUNT BY PARTNER. — "(A) IN GENERAL. —To the extent that any adjustment under part II involves a change under section 704 in a partner's distributive share of the amount of any partnership item shown on the partnership return, such adjustment shall be taken into account in applying this title to such partner for the partner's taxable year for which such item was required to be taken into account. "(B) COORDINATION WITH DEFICIENCY PROCEDURES.— " (i) IN GENERAL.— Subchapter B shall not apply to the assessment or collection of any underpa3rment of tax attributable to an adjustment referred to in subparagraph (A). " (ii) ADJUSTMENT NOT PRECLUDED.— Notwithstanding any other law or rule of law, nothing in subchapter B (or in any proceeding under subchapter B) shall preclude the assessment or collection of any underpay- ment of tax (or the allowance of any credit or renind
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