Ivers, Rickelmann & Petersen, CPAs
ACA Repeal and Replacement
2016 Tax Year-In-Review
Post-Election Tax Policy Update
Passport certifications will begin in early 2017, IRS posts on website
The IRS has informed taxpayers via its website that the agency will begin, in early 2017, to remit certifications to the U.S. State Department for individuals who are seriously delinquent in paying th...
Tax returns lacking ACA coverage status will not be rejected
The IRS has announced that it will continue to process individual returns that do not report the taxpayer’s health coverage status under the Affordable Care Act (ACA). The IRS will accept return...
Dentist persuades Tax Court of material participation in real estate business
The Tax Court determined, in Zarrinnegar v. Commissioner, TC Memo. 2017-34, that a dentist by profession, was a real estate professional, and therefore could deduct rental real estate losses. As such,...
IRS confirms automatic six-month extension for C corporations
The IRS has confirmed that a new revision of the Instructions for Form 7004 correctly reflects that calendar year C corporations are eligible for an automatic six-month extension. Code Sec. 6081(a) pr...
Future pension payouts not counted as asset in determining insolvency exclusion
The Tax Court, in Schieber v. Commissioner, TC Memo. 2017-32, found that the right to a continuing monthly payment state pension plan was not an asset in determining insolvency for purposes of exclusi...
MI - Nonprofit charitable institution exemption was upheld
The Michigan Tax Tribunal’s granting of a property tax exemption based on the property owner’s status as a nonprofit charitable institution was upheld, despite the owner’s failure to...
Providing tax and accounting services
for individuals, fiduciaries, and
Located in Ann Arbor, Michigan
Office Phone (734) 994-7500.