Credits

Interplay between Sec. 174 and Sec. 41 for software development activities

Taxpayers should note the interplay between tax accounting methods and tax credit eligibility when choosing to adopt or change their method specific to software development activities.

Now and Later: GAAP vs. Tax Treatment of the Reinstated R&D Credit

The late reinstatement of the R&D credit has a key effect on the U.S. GAAP treatment of the credit on businesses’ 2012 financial statements.

FIN 48 and R&D Tax Credits

Editor: Terence E. Kelly, CPA Under Financial Accounting Standards Board Interpretation No. (FIN) 48, Accounting for Uncertainty in Income Taxes, claims for research and development (R&D) credits are tax positions that companies following GAAP must evaluate to determine whether (and the extent to which) they may be recorded as a

Newsletter Articles

Tax Clinic

BBA audit regime affects buyers and sellers of partnership interests

Determining what is a separate trade or business for Sec. 199A purposes

Foreign corporations may not receive audit protection for accounting method changes

Tax reform’s impact on pension trusts and tax-exempt organizations in trust form

TECHNOLOGY

2018 tax software survey

Among CPA tax preparers, tax return preparation software generates often extensive and ardent discussion. To get through the rigors of tax season, they depend on their tax preparation software. Here’s how they rate the leading professional products.

DEDUCTIONS

Qualified business income deduction regs. and other guidance issued

The package includes final regulations, guidance on how to calculate W-2 wages, a safe-harbor rule for rental real estate businesses, and new proposed rules on the treatment of previously suspended losses.

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