Sec. 16. (a) If the department determines that the
partnership correctly reported and allocated tax attributes to its partners on a return or an amended return, but that the taxpayer reported the tax attributes from the partnership incorrectly, and that the taxpayer did not report the proper amount of tax as a result of such tax attributes for any
year affected by the partnership return or amended return, the department may issue a proposed assessment against the taxpayer not later than one hundred eighty (180) days after the applicable deadline for the taxpayer or the date otherwise prescribed in
IC 6-8.1-5-2 for issuing a proposed assessment against the taxpayer, whichever is later.
Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.
Terms Used In Indiana Code 6-3-4.5-16
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(1) the date prescribed under IC 6-8.1-9-1 for the partner to claim a refund, if the amended return is not the result of a change by the Internal Revenue Service; or
(2) if the adjustment is the result of a change by the Internal Revenue Service, the applicable deadline for the partner, or the date prescribed under IC 6-8.1-9-1, whichever is later.
(c) For purposes of any protest or appeal from an amended return under this section, any reporting by the partnership shall be considered conclusive with regard to the direct and indirect partners of the partnership.
As added by P.L.159-2021, SEC.18.
