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Responding to a Michigan Department of Treasury Notice Regarding a Tax Liability or Refund Adjustment

People Talking with LaptopThere are several ways to respond to a notice from the Michigan Department of Treasury (“Treasury”) regarding an outstanding tax liability or refund adjustment. The options available to individuals and businesses generally include the following:

1. offer in compromise;
2. informal conference and appeals; and
3. alternative dispute resolution. Read More ›

Categories: Tax, Tax Disputes

Tax Court Permits Examination of Predeceased Spouse for Purposes of DSUE Adjustment

The concept of “portability” was introduced into the Internal Revenue Code (“IRC”) pursuant to the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. Portability allows a surviving spouse to apply an unused portion of a deceased spouse’s estate tax exclusion amount to his or her own estate tax liability.  Read More ›

Categories: Estate Planning, Tax, Tax Disputes

Tax Consequences of Divorce: Major Changes Effective in 2019

This is the first in a two-part series about the consequences of divorce under the Tax Cuts and Jobs Act of 2017. The first part addresses alimony, child support, and child-related credits. The second part will discuss dividing assets, the marital home, and retirement assets. Read More ›

Categories: Tax, Tax Disputes

S Elections for ESOP Companies

Many mature, Employee Stock Ownership Plan (ESOP)-owned companies consider making an S-election, and for good reason.  An S Corporation owned 100% by an ESOP generally pays no federal income taxes.  An S Election instantly boosts cash flow, which the company can use to fund growth opportunities or fund its annual ESOP repurchase obligations.  Read More ›

Categories: Tax

Year-End Tax Planning Considerations

Christmas music is back on the radio. If you’re a pointy-headed tax lawyer like me, that’s your reminder to start thinking about year-end tax planning considerations. Even if you’re not, you will want to start planning earlier than in years past to address all the changes brought by tax reform. We will hit the highlights here. Read More ›

Categories: Collections, Income Tax, Tax

Streamlined Sales Tax System After Wayfair

This article was written specifically for MICPA members examining the far-reaching impact of the Supreme Court’s decision in South Dakota v. Wayfair, Inc. Read More ›

Categories: Sales Tax, Tax

How Does the New Pass-Through Deduction Work?

By now, you’ve probably read a variety of summaries about the new tax reform legislation. If you own a pass-through entity, you’ve probably wondered whether you should convert to a C Corporation (if you’re still wondering about that, check out Should You Convert Your Business to a C Corporation?).  You may also be wondering how the new pass through deduction you keep hearing about works. That’s what we’re going to try to explain here. Read More ›

Categories: Tax

When Will a Company's Website Create Nexus with a State for Sales Tax Purposes Post-Wayfair?

This is the fifth in a series of articles written for MICPA members examining the far-reaching impact of the Supreme Court’s decision in South Dakota v. Wayfair, Inc. Read More ›

Categories: Sales Tax, Tax

401(k) Tax Notices must be updated for Tax Reform

The Internal Revenue Code (the "Code") requires that each qualified retirement plan sponsor provide a special tax notice to each plan participant. Read More ›

Categories: Employee Benefits, Employment Tax & Withholding, Tax

The Post-Wayfair Future of SALT Controversies: The Due Process Clause

This is the fourth in a series of articles written for MICPA members examining the far-reaching impact of the Supreme Court’s decision in South Dakota v. Wayfair, Inc. Read More ›

Categories: Tax, Tax Disputes, U.S. Supreme Court, Use Tax