Final answer:
The known complication of the TIPS procedure for portal hypertension (variceal hemorrhage & ascites) is hepatic encephalopathy.
Step-by-step explanation:
The known complication of the TIPS procedure for portal hypertension (variceal hemorrhage & ascites) is hepatic encephalopathy. TIPS stands for Transjugular Intrahepatic Portosystemic Shunt, which is a procedure used to alleviate portal hypertension in patients with liver cirrhosis. However, one potential complication of TIPS is the development of hepatic encephalopathy, which is a neurological condition caused by the buildup of toxins in the brain due to reduced liver function.