It's Official. The 2018 annual exclusion amount will be $5.6 million and the annual exclusion for gifts will be $15,000 per person. These and all of the other inflation adjusted tax items are set out in the IRS Revenue Procedure 2017-58 (which you can see in the attached link).
The IRS will begin using a new approach to auditing entities taxed as partnerships for tax years starting on or after January 1, 2018. Read more. (By William C. Williams and Kelly J. Stohr)
Telephone and on-line scams are rampant, bold and creative. Many involve scammers pretending to be IRS agents. The Service has issued an information release explaining how the IRS contacts taxpayers, what legitimate IRS representatives will or will not ask you to do, and even what identification revenue agents are required to provide. (Article by William C. Williams)
Major, Destructive Changes to Workers' Compensation Proposed in Governor Walker's 2017-19 Biennial BudgetApril 10, 2017
Laura M. Lyons, President of the Wisconsin Defense Counsel, discusses the Governor's proposed budget changes which will have significant effects on the workers' compensation system and beyond. Read more. (Article by Laura M. Lyons)
"Medical malpractice filings are significantly down in Wisconsin compared with past years. Attorney Patricia Epstein Putney explores why - and whether this is likely to change - in the latest Litigation Blog article, published by the State Bar of Wisconsin Litigation Section." (Read more)
A provision in the Department of Administration's 2017-19 biennial budget calls to "eliminate the requirement that the Division of Hearings and Appeals have a court reporter at every hearing and implement electronic recording of hearings." (Feb. 1, 2017 - Article by Joe Forward - State Bar of Wisconsin Legal Writer; Attorneys Patricia Putney and Laura Lyons quoted in this article.) Read more.
New Wisconsin Court of Appeals Ruling - Employers May Need to Review Existing Non-Solicitation AgreementsFebruary 6, 2017
Attorney Bill Williams is interviewed by "In Business Magazine" reporter Jason Busch to look at the recent Wisconsin Court of Appeals ruling regarding former business employees poaching staff from their former employers. Read the attached article entitled "Personal Plunder" by Jason Busch to find out more.
In deciding a significant duty to defend case June 30, 2016, the Wisconsin Supreme Court cited BMR’s Sheila Sullivan four separate times (on her work supplementing the "Wisconsin Insurance Law") as authority for its decision.