This update surveys recent federal tax developments involving individuals, including
court cases, rulings, and guidance issued during the six months ending April 2025.
INDIVIDUALS
September 2025 - The Tax Adviser
credits against tax
The R&D tax credit for architects and engineers
Architecture and engineering firms often face challenges when seeking to claim the Sec. 41 research-and-development tax credit for their work on building and construction projects, as two recent court cases illustrate. However, by understanding the requirements to claim the credit and carefully planning, executing, and substantiating a project, they may be able to qualify for it.
TAX CLINIC
FOREIGN INCOME & TAXPAYERS
GAINS & LOSSES
partners & partnerships
PRACTICE & PROCEDURE
STATE & LOCAL TAXES
COLUMNS
PERSONAL FINANCIAL PLANNING
TAX PRACTICE MANAGEMENT
STATE & LOCAL TAXES
CASE STUDY
employee benefits & pensions
Profits interests: The most tax-efficient equity grant to employees
By granting them a profits interest, entities taxed as partnerships can reward employees with equity. Mistakes, however, could cause challenges from taxing authorities.
