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New law will improve offer in compromise program for Michigan taxpayers

paying taxes [1]On June 27, 2014, Michigan Governor Snyder signed legislation to provide an offer in compromise program in Michigan for any tax administered under the Revenue Act. This is another big step in making Michigan and its tax collection agency more business friendly. The power for the Department of Treasury to compromise a tax will begin on January 1, 2015.

The change would authorize the State Treasurer to compromise the payment of a tax, if doubt existed as to liability or collectability or if there were a substantial probability that a compromise would further the fair and efficient administration of the tax. The bill would do the following: 

For more detailed information, visit the State of Michigan’s website and view the bill in its entirety [2]