June 17, 2022

IRS releases 2022 “Dirty Dozen” list

From IRS.gov On June 10th, The Internal Revenue Service wrapped up its annual “Dirty Dozen” scams list for the 2022 filing season, with a warning to […]
January 20, 2022

Michigan joins other states by enacting a SALT Cap workaround for Pass-thru Entities

On Dec 20 Governor Whitmer joined several other states that enacted a work-around to the federal SALT Cap for owners of pass-through entities (Partnerships and S […]
December 15, 2021

Congress Terminates the Employee Retention Credit Early

President Biden signed the Infrastructure Investment and Jobs Act (IIJA) into law on November 15, 2021. One of the provisions of that legislation retroactively terminated the […]
October 25, 2021

Home Heating Credit

Gov. Whitmer Announced More Than 178,600 Michigan Households Are Receiving Additional Home Heating Credit Payment From the Michigan Department of Treasury: Governor Whitmer has announced that […]
June 18, 2021

IRS Unveils Online Tool to Register for Monthly Child Tax Credit Payments

As we noted in prior articles, Congress has made substantial changes to the Child Tax Credit (CTC) for 2021.  The CTC has been increased to as […]
April 21, 2021

Don’t Be a Victim to Scammers Impersonating the IRS

Thieves use taxpayers’ natural fear of the IRS and other government entities to plan their scams, including e-mail and phone scams, to steal your money. They […]
March 17, 2021

Tax Consequences of Crowdfunding

Raising money through Internet crowdfunding sites prompts questions about the taxability of the money raised. A number of sites host money-raising projects for fees generally ranging […]
March 17, 2021

Required Minimum IRA Distributions Will Resume in 2021

As part of the CARES Act, the requirement for older taxpayers to take required minimum distributions (RMDs) from their retirement plans was waived for 2020. This […]
March 17, 2021

Special Rules Apply to 2020 Earned Income Tax Credit and Child Tax Credit

Because of the pandemic, many individuals have seen their employment (earned) income plummet. In that situation, two very important tax credits, the Earned Income Tax Credit […]