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Showing 5 posts by Taylor A. Gast.

A Guide to the Employee Retention Tax Credit: An Alternative to the PPP

PPP Loan with Sticky NoteFor more articles from the June 2020 issue of Business & Tax Law News, click here.

The CARES Act created the Employee Retention Tax Credit (“ERTC”), which is designed to provide financial relief to employers during the COVID-19 pandemic. The ERTC is a refundable tax credit that is credited against an employer’s share of social security taxes for specific wages paid on or after March 12, 2020 and before January 1, 2021. An eligible employer can access ERTC funds by (1) immediately reducing employment tax obligations, (2) applying for an advance payment of the estimated credit, or (3) calculating the final credit amount at the end of the applicable calendar quarter, usually on Form 941.  Importantly, an employer that has received a Paycheck Protection Program (PPP) loan cannot also claim the ERTC (unless the employer has repaid its PPP loan by May 14, 2020). Read More ›

Categories: Employment, Tax

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

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

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

IRS Reboots Previously Unsuccessful Private Debt Collection Efforts

This week, the IRS announced that it has selected four private debt collection contractors to begin collecting certain overdue federal tax debts, as required by Congress. The contractors include:

  • CBE Group
    1309 Technology Pkwy
    Cedar Falls, IA 50613
  • Conserve
    200 CrossKeys Office park
    Fairport, NY 14450
  • Performant
    333 N Canyons Pkwy
    Livermore, CA 94551
  • Pioneer
    325 Daniel Zenker Dr
    Horseheads, NY 14845

The contractors' efforts will begin in the spring of 2017, and will be focused only on debts that the IRS had stopped trying to collect.  We note three important takeaways in the wake of this news. Read More ›

Categories: News & Events, Tax