May I Have a Deduction, Please?
Recently released final regulations under section 162(f) of the Internal Revenue Code of 1986, as amended (the “Code”), make it a necessity to properly draft settlement agreements and court orders...
View ArticleIRS DELAYS TAX FILING DEADLINE TO MAY 17
The IRS announced late Wednesday, March 17, 2021 that it is moving the federal income tax filing deadline for individuals to May 17, rather than April 15. In its statement, the IRS said that the...
View ArticleCTA – A New Reporting Burden for Small and Medium Businesses
At the beginning of, 2021, Congress slipped the so-called Corporate Transparency Act “CTA”), a new business reporting obligation, into the National Defense Authorization Act of 2021. Among other...
View Article2021 MICHIGAN PROPERTY TAX APPEALS
May 31 is the deadline for filing property tax assessment appeals in the Michigan Tax Tribunal on commercial and industrial real property. Assessment notices sent in February show the assessed value...
View ArticleTax Treatment of Unemployment Benefits
The federal American Rescue Plan Act signed by President Biden in March 2021 provides that up to $10,200 of state unemployment benefits received by individuals during 2020 are excluded from gross...
View ArticleRELEASE OF THE 2021 CANADIAN BUDGET
On April 19, 2021, Canada’s Deputy Prime Minister and Minister of Finance, Chrystia Freeland, released the first official budget in the past two years, titled, Federal Budget 2021: A Recovery Plan for...
View ArticleTax Credits Available for Employers Granting Paid Leave Related to COVID-19...
The American Rescue Plan Act of 2021 (ARP) allows certain businesses (generally, employers with fewer than 500 employees and non-federal governmental employers) to claim refundable tax credits as a...
View ArticleTax Changes Under the Ohio Fiscal Year 2022-23 Budget Bill
Ohio Governor Mike DeWine recently signed the fiscal year 2022-23 budget bill, which contains several tax provisions and changes that will affect businesses and their owners. The bill’s general...
View ArticleCoronavirus Tax Relief: Treatment of Amounts Paid to Section 170(c)...
The Department of the Treasury and the Internal Revenue Service have extended the treatment provided in Notice 2020-46 to leave-based donation programs and cash payments in connection with such...
View ArticleSuccess-Based Fees: Elect the Safe Harbor or Document Thoroughly
When taxpayers pay fees contingent on the successful closing of certain “covered transactions,” including, for example, taxable acquisitions of assets that constitute a trade or business, such...
View ArticleIRS Agents Tighten the Thumb Screws on R&D Credit
Recent taxpayer experiences suggest that IRS agents are becoming more aggressive in denying taxpayer claims of research and development tax credits through narrow construction of the so-called...
View ArticleIRS DELAYS TAX FILING DEADLINE TO MAY 17
The IRS announced late Wednesday, March 17, 2021 that it is moving the federal income tax filing deadline for individuals to May 17, rather than April 15. In its statement, the IRS said that the...
View ArticleCTA – A New Reporting Burden for Small and Medium Businesses
At the beginning of, 2021, Congress slipped the so-called Corporate Transparency Act “CTA”), a new business reporting obligation, into the National Defense Authorization Act of 2021. Among other...
View Article2021 MICHIGAN PROPERTY TAX APPEALS
May 31 is the deadline for filing property tax assessment appeals in the Michigan Tax Tribunal on commercial and industrial real property. Assessment notices sent in February show the assessed value...
View ArticleTax Treatment of Unemployment Benefits
The federal American Rescue Plan Act signed by President Biden in March 2021 provides that up to $10,200 of state unemployment benefits received by individuals during 2020 are excluded from gross...
View ArticleRELEASE OF THE 2021 CANADIAN BUDGET
On April 19, 2021, Canada’s Deputy Prime Minister and Minister of Finance, Chrystia Freeland, released the first official budget in the past two years, titled, Federal Budget 2021: A Recovery Plan for...
View ArticleTax Credits Available for Employers Granting Paid Leave Related to COVID-19...
The American Rescue Plan Act of 2021 (ARP) allows certain businesses (generally, employers with fewer than 500 employees and non-federal governmental employers) to claim refundable tax credits as a...
View ArticleTax Changes Under the Ohio Fiscal Year 2022-23 Budget Bill
Ohio Governor Mike DeWine recently signed the fiscal year 2022-23 budget bill, which contains several tax provisions and changes that will affect businesses and their owners. The bill’s general...
View ArticleCoronavirus Tax Relief: Treatment of Amounts Paid to Section 170(c)...
The Department of the Treasury and the Internal Revenue Service have extended the treatment provided in Notice 2020-46 to leave-based donation programs and cash payments in connection with such...
View ArticleSuccess-Based Fees: Elect the Safe Harbor or Document Thoroughly
When taxpayers pay fees contingent on the successful closing of certain “covered transactions,” including, for example, taxable acquisitions of assets that constitute a trade or business, such...
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