The Michigan Department of Treasury now provides an "offer in compromise" program that allows individual or business taxpayers with a tax liability to submit an offer to settle with the state for less than the full amount due.
As new, more creative scams surface, police departments everywhere continue warning residents to be cautious when receiving phone calls from the "IRS".
On June 29, President Obama signed into law two major trade bills: (1) the Trade Preference Extension Act of 2015 (TPE); and (2) and the Trade Priorities and Accountability Act of 2015 (TPA).
On Friday, July 31, President Obama signed into law the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015. This act has several parts which include important tax compliance provisions.
Guidance has been issued by the IRS's Small Business/Self-Employed Division (SB/SE) to its Collection department employees regarding collecting taxes that were due to be paid, but were not paid, by a PEO with respect to wages paid before April 1, 2014.
U.S. persons with a financial interest or signature authority over a foreign financial account(s) for which the total of all foreign accounts is greater than $10,000 at any time during 2014 must file a Report of Foreign Bank and Financial Accounts (Form 114 - FBAR) by June 30, 2015. There are no extensions.
During the holiday season, a time for gifts and celebrations, it is important to remember the true meaning of this special time; generosity and kindness. UHY Cares Michigan, a nonprofit 501c3 organization founded by accounting firm UHY LLP, partnered with Angels of Hope Family Cancer Foundation and Volunteers of America to give a merry Christmas to some families who otherwise would not have had one. Cares sponsored 18 local families for the holidays and raised nearly $20,000 through employee raffles, jean days, bake sales, luncheons and partner matches. Over 30 volunteers from UHY’s Farmington Hills and Sterling Heights locations joined forces to shop, wrap and deliver gifts and holiday cheer to 85 people from the metro Detroit area.
Over the holiday weekend, UHY LLP sponsored the Distinguished Clown Corps float in the 88th America’s Thanksgiving Parade. The Parade is Detroit’s grandest and most anticipated civic event, the second largest Thanksgiving parade and the third largest parade in the country overall. First televised in 1948, The Parade is now broadcast nationally to more than 65 million viewers.
Macomb, Oakland and Wayne counties have been declared as federal disaster areas due to the damage caused by the severe storms and flooding in August. The declaration permits the IRS to postpone certain deadlines for affected taxpayers of the covered disaster areas.
The Small Business Exemption was passed by the legislature in early 2014, exempting small business from Michigan personal property tax. The taxpayer must have less than $80,000 of true cash value for all business property in a particular taxing jurisdiction and file an affidavit claiming such exemption with the assessor no later than February 10 of each tax year.
UHY LLP, a leading national CPA firm with over 300 employees in Oakland and Macomb counties, is opening its third Michigan office in the heart of downtown Detroit’s financial district. UHY’s first Wayne County office will be open for business on the sixth floor of the Chrysler House (previously known as the Dime Building) sometime in November. The 23-story historic skyscraper is located at Griswold and Fort streets near Campus Martius Park.
UHY Advisors MI, Inc. has been voted by the Michigan Business & Professional Association (MPBA) as one of 2014’s best and brightest companies to work for in Metropolitan Detroit for the eleventh year in a row! Only companies that distinguish themselves as having the most innovative and thoughtful human resources approach can be bestowed this honor.
UHY Advisors MI, Inc. was presented the “Community Re-Investment Business of the Year” award by Oehmke and Sterling Heights Economic Development Manager, Barry Hicks, at the May 21 Michigan Week Business Luncheon and Sterling Edge Awards event at the Best Western Plus Sterling Inn in Sterling Heights. The chamber recognizes UHY for our expansion and reinvestment into the community and city of Sterling Heights throughout the years.
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