Articles Posted in Federal Taxation

As we celebrate the Army’s birthday, I reflect on how my service with the 3rd Battalion of the 75th Ranger Regiment has profoundly shaped my career as a tax resolution attorney. Our motto, “Rangers Lead the Way,” is not just a call to action—it is a lifelong commitment to leadership, excellence, and integrity; principles that…

Summer officially kicks off this month, and it’s a popular time when taxpayers delve into home improvement projects. Whether it’s extensive renovations, or a “honey-do” list that has been lingering for some time, there may be expenditures that qualify for home energy tax credits. Both homeowners and some renters may be able to claim these…

In a recent announcement, the Treasury Department and Internal Revenue Service informed businesses that they do not have to report the receipt of digital assets the same way they report the receipt of cash – until Treasury and IRS issue necessary regulations. This is good news for many businesses that engage in digital asset transactions.…

What to Do If Your CPA Doesn’t File Your Taxes On Time: A Guide for Taxpayers MIDLAND, Michigan – Every year, millions of individuals and businesses rely on Tax Preparers, Enrolled Agents (EAs), and Certified Public Accountants (CPAs) to prepare and file their tax returns. While many tax professionals provide reliable services, there are occasions…

The Internal Revenue Service (IRS) has initiated a withdrawal option for small businesses and organizations concerned about the accuracy of their Employee Retention Credit (ERC) claims. This measure comes as part of the agency’s broader initiative to shield these entities from potential scams. It is essential that claims for Employee Retention Credits be made by…

The IRS published the following article IR-2023-185 on October 5, 2023: WASHINGTON — The Internal Revenue Service today warned taxpayers to watch for promotions involving exaggerated art donation deductions that can target high-income filers and offered special tips for people to use to avoid getting caught in a scheme. There are ways for taxpayers to…

DETROIT (AP) — Starting next year, people who want to buy a new or used electric or plug-in hybrid vehicle will be able to get U.S. government income tax credits at the time of purchase. Eligible buyers, including those that bought an EV or hybrid this year, have had to wait until they filed their…

NASHVILLE, Tenn; MIDLAND, Michigan – With the complexity of tax regulations and the potential financial implications for businesses, experts are emphasizing the critical importance of tax planning consultations for all business owners. Here’s why scheduling one should be on every entrepreneur’s to-do list. You can schedule your tax planning consultation today by calling (615) 267-0125…

FRAZIER LAW FIRM EXPANDS ITS service offerings in Michigan MIDLAND, Mich. – The Law Offices of Charles R. Frazier has expanded its practice in the Great Lakes Bay market to now include estate planning, elder law and business succession planning services. Adding to its existing tax planning, compliance and controversy services, the firm is now…

MIDLAND, Michigan — Taxpayers are reminded that the extended tax filing deadline is swiftly approaching on October 16th. Those who requested an extension earlier this year must submit their completed tax returns by this date to avoid late-filing penalties. The October 16th deadline applies to taxpayers who requested a six-month extension to file their 2022…