A taxpayer is subject to penalties and interest for failing to file a Michigan tax return or pay Michigan tax on time. The penalties are 5% of the amount of the tax properly reportable on the return for the first two months of the failure, and 5% for each succeeding month, up to a total [...]
Click here to access a new article written by our own Tax Attorney Steve Dunn. It discusses common estate planning problems.
Click here to access a new article from our Tax Attorney Stephen Dunn. The article discusses IRS Audits.
The Internal Revenue Service is making a one-time, extraordinary allowance to taxpayers who make qualifying contributions for Haitian earthquake relief.[1] Individual taxpayers who itemize their deductions for 2009 may deduct on their 2009 income tax return cash contributions to qualifying charities for Haitian earthquake relief made after January 11, 2010 and before March 1, 2010. [...]
If you are purchasing a Michigan business, then you need to be aware of Section 22 of the Michigan Employment Securing Act. If you are not aware of how Section 22 can affect you transaction, please read the article “SUCCESSION TO MICHIGAN UNEMPLOYMENT TAX EXPERIENCE ACCOUNT OF PURCHASED MICHIGAN BUSINESS” by Steve Dunn. Click here [...]
Stephen J. Dunn, specialist in tax and trust and estate law at Demorest Law Firm, PLLC, presents a recent article entitled “Beyond GRATS and IDGTS.” In the article, Dunn explains how certain schemes used since the early 1990s to circumvent the Federal estate tax have largely failed in achieving their objective of reducing the value [...]
Stephen J. Dunn, a specialist in tax and trust and estate law at Demorest Law Firm, PLLC, recently wrote an article entitled “Tax Resolution Scams 101”. In the article, Mr. Dunn explains how tax resolution operators use the premise of an offer-in-compromise (OIC) to defraud taxpayers out of several thousand dollars in retainer fees for [...]
Stephen J. Dunn, a specialist in tax and estate planning issues at Demorest Law Firm, PLLC, recently wrote an article entitled “The Troublesome Joint Tax Return”. The article was published in the March/April 2009 issue of the EA Journal. This Journal is published by the National Association of Enrolled Agents, an organization representing professionals licensed [...]
Many financially distressed companies accumulate large liabilities for employment taxes withheld from their employees’ wages. These taxes can be assessed personally against the company’s principals.
Successful resolution of tax controversies is all about experience and instincts. When the Internal Revenue Service (“IRS”) conducts an examination and determines to make an assessment, it must issue to the taxpayer 30 days’ written notice of its intent to make the assessment. If the taxpayer appeals the proposed assessment within the 30-day window, the [...]
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