New Partnership Representative Rules May Increase Audit Activity

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With a new year comes new tax rules that have significant impacts on your operating agreements and LLCs.  If you haven’t updated your operating agreement for some time or if you are entering or exiting an LLC, the Bipartisan Budget Act of 2015 (the “BBA”) has significant impact for the former “tax matter partner” provisions.  These BBA provisions took effect January 1, 2018 and repeal the TEFRA and ELP procedures and applies to all partnerships that file a Form 1065 return.  In implementing these rules, IRS hopes to increase audit activity and make it easier to assess deficiencies for unpaid taxes to your partnerships.  It is critical to understand the new rules in order to better protect yourself and your partnership in future audit.

Time May be Up on Claims of Sexual Harassment Filed Too Late

In the past few months, we have seen allegations or accusations of sexual harassment being reported in the media on practically a daily basis. And, campaigns and posts on social media, including the #metoo and #TimesUp movements, have revealed countless more allegations. While there is no time limit on someone’s right to free speech, there is a legal time limit to take an accusation of sexual harassment out of social media or the press and into a courtroom.

Strauss Troy Attorney Christopher McDowell Named Chairman of River City Correctional Center

Christopher R. McDowell has been named chairman of River City Correctional Center’s governing board. During his term, McDowell will be charged with helping River City carry out its mission of assisting residents in recognizing and overcoming substance abuse dependency and other obstacles preventing them from leading happy, full, and productive lives.

Strauss Troy Shareholder Bill Williamson Invited to Speak at Estate Planning Seminars

Bill Williamson was been invited to speak at two seminars for private companies in October. The seminars focused on basic estate planning matters for professionals and employees of the host companies. Bill’s practice focuses on the areas of real estate law, corporate law and entity formation, estate planning, probate and general business law. Bill’s business …Read More

How to Spot Trouble in Residential Real Estate Transactions

Whether buying or selling, there are three areas where difficulties occur in Ohio residential real estate transactions: Residential Property Disclosure Form; earnest money deposit; and timing and deadlines regarding inspection of the property. While specific terms of each contract will control the transaction, consider these general observations. The Residential Property Disclosure Form. Both the Ohio …Read More