Credits
The AICPA asked the IRS and Treasury to clarify that the filing of a Paycheck Protection Program loan forgiveness application is not an election by the taxpayer to forgo the employee retention credit for wages reported on the application exceeding the amount of wages necessary for loan forgiveness.
This item discusses how businesses can qualify for
incentives in the housing and construction industries and how tax preparers can assist them in claiming these tax benefits.
The IRS issued final and proposed regulations covering a variety of issues involving deductions and credits for foreign taxes.
the IRS published proposed regulations regarding the Sec. 47 rehabilitation tax credit, including rules to coordinate the new five-year period over which the credit may be claimed with other special rules for investment credit property.
R&D tax credits can be a very effective and controllable way for businesses to replenish valuable dollars spent on new and innovative products or processes.
The IRS issued a new form and instructions for employers to use to obtain advance payments of three tax credits that were created to help businesses cope with the coronavirus pandemic.
The IRS issued a new form and instructions for employers to use to obtain advance payments of three tax credits that were created to help businesses cope with the coronavirus pandemic.
The IRS issues rules to implement paid sick and child care leave credits enacted in response to the pandemic.
Many taxpayers do not realize that the R&D tax credit is available to businesses of all sizes in many lines of business, not just major corporations conducting tests in research laboratories.
This article discusses the modifications made to Sec. 174 and Sec. 41, which will affect taxpayers’ R&D tax credit claims for tax years after Dec. 31, 2021.
Sec. 45S requires that an eligible employer for purposes of claiming the family and medical leave credit must have in place a written policy meeting certain requirements.
This article discusses who qualifies to take the credit, how to make the election, the calculation and allocation of the credit, and how to report it.
The IRS released guidance on the new Sec. 45S tax credit for employers that provide paid medical and family leave.
Not just large but also medium-size and even smaller companies can more easily take a RTC now that the IRS allows multiple tax years under one statistical sample study.
A new directive allows taxpayers to use R&D costs reported on FASB ASC financial statements as the starting point for computing QREs.
Since the R&D tax credit is a nonrefundable credit, startup companies are frequently limited in their ability to claim it in the current tax year because
they have net operating losses.
This article examines the PATH act provisions and other developments favorable for taxpayers.
Eligible small businesses can apply a portion of their R&D credit against their payroll tax liability under a new provision enacted in 2015.
The final regulations could provide opportunities for companies and industries that previously did not include expenditures for software developed primarily for their own internal use.
Eligible small businesses can apply a portion of their research and development credit against their payroll tax liability, starting with 2016 tax years, under a new provision enacted in 2015.
