Ideas & Insights

The IRS describes the procedures required to make a one-time claim for all 2018 and 2019 biodiesel and alternative fuels tax credits.

The medical device excise tax, the health insurance tax and Cadillac tax have all been repealed by recent legislation.

The ruling allows taxpayers to amend a return to increase their ITC because of an increase in the basis of self-constructed property.

The final Qualified Opportunity Zone regulations include several taxpayer favorable improvements over the proposed regulations.

Taxpayers received a pre-holiday surprise when Congress ended stalemate to agree to extend many popular tax incentives.

The Final QOZ Regulations have been submitted to the Office of Management and Budget for final review and publication is expected soon.

Puerto Rico has enacted new legislation to provide additional tax benefits for investing in projects in PR opportunity zones.

Joint LB&I and SB/SE directive allows taxpayers to claim work opportunity tax credit in the year delayed state certifications received.

Supreme court will not hear case arguing that taxpayers can exclude the fuel tax credit from income and also deduct the tax as an expense.

A court found that conclusory statements without additional evidence were insufficient to support an R&D credit study.

Appeals court finds Taxpayer did not have reasonable cause for claiming fuel tax credits and is subject to 200% penalty.

TIGTA General Business Credit Review suggests changes to R&D Credit Exams after identifying billions of Carryforward Claim discrepancies.

The second round of Qualified Opportunity Zone regulations may spur taxpayer confidence and financial implications will drive investment.

The IRS released final regulations that address income inclusion when a lessor elects to treat the lessee as having acquired the ITC.

The IRS FAQ states that 1231 gains invested in a QOF before the second set of proposed regulations can still be eligible for gain deferral.

What government contractors should know regarding accounting methods after tax reform and the new revenue recognition standards.

RSM sponsors SelectUSA in Washington D.C. from June 10-12, 2019. Learn more about foreign direct investment in the U.S.

U.S. government to appeal taxpayer favorable outcome of first ever research and development credit jury trial.

Specially designated districts designed to fuel economic growth where development has been stagnant offer investors tax-saving options.

The US Tax Court disallowed R&D credit claims because the taxpayer did not produce evidence to support requirements under section 41.