On March 27, 2020, Governor Gretchen Whitmer signed Executive Order 2020-26 to temporarily suspend strict compliance with certain tax filing and payment deadlines in Michigan. These new filing and payment deadlines follow in...more
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes provisions to provide employment tax credits and relief to businesses and to reduce or eliminate the restrictions on the use of losses or deductions....more
Because of the presidential emergency declared regarding the COVID-19 virus pandemic, the IRS published on March 20, 2020, Notice 2020-18, amending a prior notice that limited the amount of a federal income tax payment that...more
A taxpayer may claim a credit against its federal income tax liability for research expenses paid or incurred during the tax year.
The definitions of research expenses for financial reporting purposes and federal income...more
Investors got some great news in the Tax Cuts and Jobs Act, which enables them to delay paying the tax on capital gains. If a taxpayer generates a capital gain and invests that amount in a qualified opportunity fund within...more