Publications for Tax Law

In sports, it is often said that, “The best offense is a good defense.” This adage holds true not only on the field of play, but also in business and in life.

IRC 642(c) Plans, referred to as “Pooled Income Funds” offer unique ways for participants to utilize tax favored deferred compensation.

Criminals have increasingly targeted the information necessary to fraudulently obtain tax refunds in recent years. While this goal remains a constant, thieves are constantly developing new ways to obtain this information.

Following fierce debate, extensive negotiations, and votes - then re-votes - in Congress, on December 20, 2017, the U.S. Senate and U.S. House of Representatives approved the Tax Cuts and Jobs Act (“Tax Reform”), and sent a final bill to President Trump for his signature.

A recent Michigan Supreme Court decision has caused concern among many local taxing units as it potentially opens the door to more properties receiving exemptions as “charitable institutions.”

In order to qualify for the agricultural use tax exemption, an entity claiming the exemption must satisfy two requirements. Read about the requirements here.

Federal estate tax is imposed on virtually all assets in which a decedent has any interest, including life insurance proceeds, after the assets exceed an exemption amount.

A listing of noteworthy federal income tax-related bond provisions that were enacted in the American Recovery and Reinvestment Act of 2009 (ARRA) or other past federal tax legislation.

Several years ago, Congress permitted S corporations to sponsor employee stock ownership plans ("ESOPs").

The Michigan Use Tax Statute provides an exemption for “rolling stock used in interstate commerce and purchased, rented or leased outside of this state by an interstate motor carrier . . .”