Typically, people who are self-employed pay their federal income tax by making estimated tax payments. However, they aren’t the only ones that may need to pay estimated tax. Federal income tax is a pay-as-you-go tax….

The Michgan Association of CPAs is aware of an issue involving Michigan Department of Treasury (Treasury) notices indicating that certain 2025 estimated payments were not applied to taxpayers’ annual returns, despite confirmation that payments had…

The Internal Revenue Service, working with the U.S. Department of the Treasury, today announced that paper tax refund checks for individual taxpayers will be phased out beginning on Sept. 30, 2025, as required by Executive Order…

Taxpayers who discover an error after filing a federal tax return may need to file an amended return. There are some instances where an amended return isn’t required such as when the IRS corrects errors…

Family members who are paid to take care of a loved one may have tax responsibilities. This depends on whether they are considered an employee or provide their services as their own business. Let’s go…

There are several kinds of major life events that can affect a taxpayer’s filing requirements, tax benefits and withholding. It could be marriage, welcoming a new child, divorce, or loss of a loved one- all…

People with disabilities and their families can use Achieving a Better Life Experience accounts to help pay for qualified disability-related expenses. ABLE accounts are savings accounts that don’t affect eligibility for government assistance programs. Here are some key…

Many people have hobbies – things they enjoy doing in their spare time – and some even make a little extra money from them. However, there’s a difference between a hobby and a business, especially…