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…

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….

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…

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…

The costs for continuing education can add up quickly and get expensive. There are several tax benefits such as credits and deductions that can help eligible taxpayers reduce these costs. A tax credit reduces the…

Mistakes and errors can happen, but most are easily avoidable when it comes to filing federal income tax returns. Taxpayers are encouraged to review their entire return before filing to make sure it is correct…

The April 15 deadline to file federal income tax returns is coming up fast. Taxpayers who need more time to file, should request an extension by the filing due date. An extension gives people until…

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…