Showing 17 posts from 2015.
New Law Allows Michigan Taxpayers to Appeal Tax Disputes without Paying First
On June 16, 2015, Gov. Rick Snyder signed into law Enrolled Senate Bill 100, which eliminates the requirement that taxpayers pay contested taxes, penalties and interest before appealing their liability to the Michigan Court of Claims. The bill was introduced by Senators Brandenburg, Horn, Zorn, Emmons, Colbeck, Schmidt, Hansen, Casperson, Nofs and Booher.
Prior to the enactment of this law, a taxpayer had two options to appeal an adverse tax assessment or decision:
- the taxpayer could appeal the case to the Michigan Tax Tribunal without paying disputed amounts; or
- the taxpayer could appeal the case to the Michigan Court of Claims, but only after paying the taxes, penalties, and interest assessed, even if those amounts were being contested.
Categories: News & Events, Tax, Tax Disputes
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NFL Drops Tax-Exempt Status
Million dollar athletes. Billionaire owners. Mega television contracts. These are not things that come to mind when one thinks of tax-exempt organizations.
It comes as a surprise to many, therefore, that the National Football League was, until recently, a tax-exempt business league incorporated as a 501(c)(6) organization. Calling the issue a distraction, NFL Commissioner Roger Goodell (who made more than $44 million in 2014) recently announced to team owners and members of the U.S. Congress that the league is giving up its tax-exempt status. Read More ›
Categories: News & Events, Tax-Exempt Organizations
Michigan Passes New “Amazon Tax” Law Requiring Internet Sales Tax Collection
Online shopping continues to increase in popularity. But it's not just the convenience of having a package arrive at one's doorstep without having to trudge to the mall that many shoppers prefer. Some online retailers do not collect sales tax on purchases, meaning that online shoppers in Michigan have historically been able to avoid paying Michigan's 6 percent sales tax - which Michigan bricks and mortar retailers are required to collect at the time of purchase. That's not to say that online purchases are tax free, as Michigan residents are obligated to report online purchases on their tax returns and pay 6 percent use tax. But most taxpayers ignore - or are not even aware of - this obligation.
Michigan retailers have long lamented what they perceive as an un-level playing field in their battle with online retailers, and the state government estimates that hundreds of millions of dollars in tax revenue is not collected every year on online purchases. If a recently passed law has its intended effect, sales tax collections on online purchases should experience a surge. Read More ›
Categories: News & Events, Sales Tax, Use Tax
Do You Need More Time For Your Taxes?
The April 15 deadline to file taxes is almost here. Are you concerned about meeting the deadline? The IRS released an article titled "Five Things to Know if You Need More Time to File Your Taxes." The article was released on April 13, 2015.
Categories: Income Tax, News & Events, Tax
IRS Releases Tax Tips for Farmers
It's tax time, and the deadline to file is quickly approaching. If you have yet to file, be sure to check out the article titled "Ten Tax Tips for Farmers". The article was released by the IRS on March 25. Read the article here.
Categories: News & Events, Tax
One Reason You Might Want To File Your Tax Return Early This Year: Identity Theft
Now is the time of year when people start to receive W-2s from their employers and start to think about filing individual tax returns. Many people, however, wait until the last day to file their individual tax return. Some people have very good reasons to wait, while others may just have a habit of procrastination.
There is at least one good reason to file your individual tax return well before April 15. The Internal Revenue Service has recently released information regarding tax-related identity fraud. Identity thieves can steal your personal information and use it for their gain. Tax-related identity theft occurs when someone uses your stolen Social Security number to file a tax return claiming a fraudulent refund. Read More ›
Categories: Tax
Auditing the Auditor: Microsoft Files for Information about Tax Law Firm
Microsoft Corporation is seeking transparency. On Nov. 24 the company filed a complaint in federal court under the Freedom of Information Act, demanding that the Internal Revenue Service disclose information about its contract with a law firm tied to audits of the software maker.
At issue in Microsoft Corp. v. Internal Revenue Service (Case 14-cv-01982, U.S. District Court, District of Columbia) is Microsoft’s request for access to the complete government contract between the IRS and Quinn Emanuel Urquhart & Sullivan LLP, the firm contracted by the IRS to examine federal income tax returns for years 2004 through 2009.
Microsoft submitted a public records request on Sept. 22 seeking information on the $2.2 million contract entered into in May, according to the filing. To date, the IRS hasn’t disclosed and is unlawfully withholding the records, according to Microsoft. Read More ›
Categories: Corporate Income Tax, Tax
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