Under recently issued new rules, the IRS will conduct a single partnership audit, and partners have no rights to participate.  A “partnership representative” will have the sole authority to act on a partnership’s behalf with the IRS.  If an audit results in an adjustment, the default rule is that the partnership itself will be liable for the taxes.  Partnerships may, however, elect to push out the tax liability to their partners...

The IRS recently proposed more detailed rules governing innocent spouse relief under Secs. 6015. One significant change is to the application of res judicata in innocent spouse cases.  Res judicata prevents a spouse from requesting innocent spouse relief when Sec. 6015 relief was at issue in a prior court proceeding or the requesting spouse meaningfully participated in a prior proceeding in which relief under Sec. 6015 could have been...

The Johnson County Kansas budget for 2016 includes a proposal to raise the amounts assessed on real property within Johnson County. Johnson County Commissioners state that the money raised would be used to improve the quality of life and pay to renovate the county library system, upkeep area parks and improve public transportation. If the tax increase is officially passed, $250,000 house will cost you an extra $8.00 per month while a $400,000...

  Current Exemption Amount (for 2015) In 2015, every person may leave or give away up to $5.43 million without owing any estate tax.  In effect, very few estates will be subject to the death tax at this amount.   The exemption amount is indexed for inflation each year and will slowly rise above the current $5.43 million unless and until Congress tinkers with the estate tax and estate tax exemption amount. ‘Portability’ for...

The Governor recently signed House Bill 384 which allows a one-time opportunity for delinquent taxpayers to pay all back taxes without penalty in Fiscal Year 2016. “This bipartisan legislation is a common sense solution to make sure that delinquent taxpayers pay what they owe by offering a one-time opportunity to settle their debts with the state,” Gov. Nixon said. “This legislation holds delinquent taxpayers accountable, while...

Currently, the Kansas Legislature is considering Senate Bill 57 which could significantly change the law regarding financial powers of attorneys and possibly criminalize the actions of the attorney in fact.  Similar proposals were initial introduced by the Kansas Attorney General Medicaid Fraud Division in 2013.  The bill was introduced again in 2014 but opponents to the bill were able to obtain review of the language by the Kansas Judicial...