IRS Fresh Start Program
What is the IRS Fresh Start Program?
The IRS Fresh Start program combines penalty relief, installment payments; lien releases and a program known as Offer in Compromise that allows some taxpayers to settle their federal tax debts for less than what they actually owe.
Installment Agreements:
An installment agreement allows the taxpayer to pay the tax debt in monthly payments, provided certain prerequisites are met. Once and agreement is established, the taxpayer is required to stay in compliance to avoid adding additional taxes onto those that are already owed.
Liens and Levies:
In an effort to help struggling taxpayers, the IRS is changing its lien practices (IR-2011-20 (2/24/2011)).
The client can be free of the threat of levy or other collection actions as long as payments are made as agreed.
IRS Offer in Compromise:
Another expansion of the Fresh Start program is a more flexible OIC program (IR-2012-53 (5/21/12)).
Some of the changes are:
Wondering if you are eligible? Give us a call!
If you are struggling with paying your taxes, please contact us today at (248) 887-6816. We will help you take advantage of the Fresh Start initiatives.
The IRS Fresh Start program combines penalty relief, installment payments; lien releases and a program known as Offer in Compromise that allows some taxpayers to settle their federal tax debts for less than what they actually owe.
Installment Agreements:
An installment agreement allows the taxpayer to pay the tax debt in monthly payments, provided certain prerequisites are met. Once and agreement is established, the taxpayer is required to stay in compliance to avoid adding additional taxes onto those that are already owed.
Liens and Levies:
In an effort to help struggling taxpayers, the IRS is changing its lien practices (IR-2011-20 (2/24/2011)).
The client can be free of the threat of levy or other collection actions as long as payments are made as agreed.
IRS Offer in Compromise:
Another expansion of the Fresh Start program is a more flexible OIC program (IR-2012-53 (5/21/12)).
Some of the changes are:
- Revising the calculation for the taxpayer's future income;
- Allowing taxpayers to repay student loans;
- Allowing taxpayers to pay deliquent state and local taxes; and
- expanding the allowable Living Expense allowance allowance category and amount.
Wondering if you are eligible? Give us a call!
If you are struggling with paying your taxes, please contact us today at (248) 887-6816. We will help you take advantage of the Fresh Start initiatives.
State Tax Specialist
Call Today! (248) 887-6816
Michigan tax laws are extremely complicated. Our years of experience working for the Michigan Department of Treasury, provide the expertise that is necessary in determining if the reporting process for remitting taxes is correct.
Michigan tax audits can include an audit look-back period of up to 4 years on current audits where a taxpayer is not properly registered for a tax. It is important for businesses to be knowledgeable in Michigan tax laws and how they pertain to their tax reporting procedures.
Michigan Offer In Compromise
Michigan tax audits can include an audit look-back period of up to 4 years on current audits where a taxpayer is not properly registered for a tax. It is important for businesses to be knowledgeable in Michigan tax laws and how they pertain to their tax reporting procedures.
Michigan Offer In Compromise
Sales Tax Services
Individuals or businesses that sell tangible personal property to the final consumer need a sales tax license. We will review and evaluate your sales tax reporting procedures.
Use Tax Services
The Michigan Department of Treasury can audit non-registered taxpayers for a period of up to 4 years. A non-registered filer for use tax means:
Please contact us for additional information on proper use tax registration and reporting procedures.
Contractors:
A contractor is subject to Michigan sales or use tax on all items used or consumed to provide his or her service, including equipment, supplies and materials, unless the building project qualifies for a special exemption.
A contractor is defined as anyone who attaches to realty and can include general contractors, subcontractors, construction contractors or contractors who manufacture, fabricate or assemble property prior to affixing to realty.
We will review your processes for sales/use tax compliance. Call today!
- The taxpayer is registered for Michigan Business Tax/Corporate Income Tax only or,
- The taxpayer is not registered.
Please contact us for additional information on proper use tax registration and reporting procedures.
Contractors:
A contractor is subject to Michigan sales or use tax on all items used or consumed to provide his or her service, including equipment, supplies and materials, unless the building project qualifies for a special exemption.
A contractor is defined as anyone who attaches to realty and can include general contractors, subcontractors, construction contractors or contractors who manufacture, fabricate or assemble property prior to affixing to realty.
We will review your processes for sales/use tax compliance. Call today!
Streamlined Sales and Use Tax Agreement (SSUTA)
The SSUTA agreement minimizes the cost and administration burden on retailers that collect sales tax, particularly retailers operating in multiple states. We assist Certified Service Providers and Registered users with the reporting process..
(MBT) Michigan Business Tax
Effective through 12/31/2011. The MBT is a combination of four different taxes:
- Business income tax
- Modified gross receipts tax
- Gross premiums tax on insurance companies
- Net worth tax on financial institutions
Corporate Income Tax
The Corporate Income Tax (CIT) takes effect January 1, 2012, and replaces the Michigan Business Tax (MBT), except for certain businesses that wish to retain certain certificate credits. The CIT applies only to C corporations and entities taxed as C Corporations for federal income tax purposes (for example, a limited liability company that checks-the-box to be taxed as a corporation). The CIT is comprised of three separate taxes:
- a corporate income tax
- a premiums tax on insurance companies
- a franchise tax on financial institutions
Michigan Tax Audits & The Appeal Process
We have the technical experience necessary and essential to successfully and effectively represent your company throughout the audit defense and refund process. Our tax experience, in excess of 25 years, enables us to not only identify, evaluate and document available tax exemptions but to recover tax dollars overpaid in the constantly evolving landscape of sales and use tax laws.
Our firm offers high-quality, value-added sales & use tax consulting services to businesses. We identify and resolve sales & use tax exposure and overpayment while implementing sound compliance procedures and legal tax reduction strategies.
2013 Michigan Income Tax Changes
On May 25, 2011, Governor Rick Snyder signed legislation restructuring the treatment of pension and retirement benefits, exemptions, deductions and credits. Several of these changes, to the personal income tax and homestead property tax code, will impact the retirement incomes that older adults rely on.
We are offering a free tax consultation for older adults who are at a greater risk of being negatively affected by these changes.
Our firm offers high-quality, value-added sales & use tax consulting services to businesses. We identify and resolve sales & use tax exposure and overpayment while implementing sound compliance procedures and legal tax reduction strategies.
2013 Michigan Income Tax Changes
On May 25, 2011, Governor Rick Snyder signed legislation restructuring the treatment of pension and retirement benefits, exemptions, deductions and credits. Several of these changes, to the personal income tax and homestead property tax code, will impact the retirement incomes that older adults rely on.
We are offering a free tax consultation for older adults who are at a greater risk of being negatively affected by these changes.
672 N. Milford Rd., Suite 144
Highland, MI 48357
(248) 887-6816
Highland, MI 48357
(248) 887-6816