• IRS Gives Relief to Storm Victims

    Rightfully so, the Internal Revenue Service announced late today that it will allow an extension to victims of recent North Carolina storms whose towns or businesses fall in areas designated as Federal Disaster regions.  The IRS is moving the tax deadline to June 30 for those affected. Read the full story here. Any thoughts about

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  • Expanded 1099 Repeal Signed Into Law

    On Thursday, President Barack Obama signed legislation repealing the expanded 1099 reporting requirements that were enacted last year. The bill was overwhelmingly approved by the House and Senate. The AICPA had advocated strongly for repeal and AICPA President and CEO Barry Melancon has described the repeal as “a victory for taxpayers.” The increased information-reporting penalties

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  • Japan Auto Production

    News today about the Japan earthquake may be of interest to our auto dealership customers: How the Japan Earthquake is Affecting Auto Makers in terms of lost production and slow downs for Toyoa, Honda, Mazda, Suzuki, and Fuji. March 23 (Reuters) – Following is a roundup of the impact of this month’s earthquake and tsunami

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  • Tax Challenge – CPA Wins

    Have you ever wondered about the value of filing your individual tax return with the help of a CPA?   Here’s an interesting video about a couple challenged by CBS News to file taxes 3 different ways to determine the optimal way to file:  Turbo Tax, H&R Block, and a CPA.   Watch the video

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  • Competing Currencies … In Mid-Michigan

    Incredibly interesting video and topic.   As/if unconventional currencies become more popular, we wonder what the IRS will think.

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  • Why It’s Worth Paying for a Tax Pro

    Are you contemplating doing taxes for your small busines?  If so, you may want to hire a Tax Professional to help you optimize your return and as importantly save yourself a lot of time. The Wallstreet Journal recently reported on the benefits of hiring a tax professional.  A few key points listed include: Business Tax

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  • Notice – State Changes Unclaimed Property Act

    You may have received a letter recently from the Michigan Department of Treasury concerning recent changes made to unclaimed property laws in the State of Michigan. Many businesses have been hit with State of Michigan use tax audits in recent years. The unclaimed property changes appear to be the State’s latest attempt in looking for new revenue. Robert F. Murray & Company is here to assist you in understanding and complying with these laws.  We published a letter to help you understand the law, the changes and what actions you must take.  You can find the letter in pdf format here. Please contact us should you need assistance. Do you have rights to any unclaimed property in

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  • Discussing the Michigan Business Tax

    Governor Rick Snyder vows in the State of the State Address to eliminate the “job killing”  Michigan Business Tax (MBT).  24 Hour News 8 anchor Sue Shaw and Andrew Johnston, of the Grand Rapids Chamber of Commerce discuss the elimination, challenges with the MBT, and what replace the MBT.

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  • Even the IRS is Going Mobile

    Yesterday, the IRS announced its new iPhone and Android App, IRS2GO. With the app, you can check your refund status from your smartphone.  It reflects the IRS (quote) “commitment to help you get the information you need — whenever you need it, wherever you are”. Hmm… a noble commitment.   Let’s see, it is definitely better

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  • Federal Money to Propel Small Business Loans

    Found in the Detroit Freepress: “U.S. Treasurer Rosa Rios is welcome in Michigan anytime, especially when she comes bearing an $80 million. That was the message from Gov. Rick Snyder, U.S. Sen. Debbie Stabenow and U.S. Rep. Gary Peters, who gathered at United Metal Products, a Detroit metal stamping plant, which primarily supplies the auto

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