As described in our October 24 article “IRS Offers Forgiveness for Erroneous Employee Retention Credit Claims” the IRS has increased scrutiny on claims for the Employee Retention Credit (“ERC”). The IRS halted processing...more
On July 31, 2023, a divided Michigan Supreme Court in Vectren Infrastructure Services v. Michigan Treasury issued an important decision in favor of the state, ruling that an out-of-state taxpayer could not reduce its tax by...more
Key Takeaways -
..New motor vehicle dealers should consider including a tax-saving contingency in their cash plans for pending federal income tax legislation affecting inventory accounting.
..If enacted, dealers using...more
The Michigan Supreme Court has agreed to hear one of the most significant cases in the country to examine the question of when the Due Process and Commerce Clauses of the U.S. Constitution require the application of an...more