Ideas & Insights

RSM submits Comment Letter seeking clarity on interaction of the employee retention tax credit and required disallowance for wage expense.

The Employee Retention Credit provides liquidity benefits for many businesses and was significantly expanded for 2020 and 2021.

IRS postpones certain filing, payment and other time sensitive deadlines for taxpayers affected by Texas winter storms.

IRS temporarily waives penalty for using dyed diesel fuel on the highways in Texas due to severe winter storm retroactive to Feb. 12.

The Tax Court explains various R&D credit concepts, including process of experimentation, qualified services and pilot models.

Sweeping changes are coming. Don’t let required capitalization of research expenditures wreak havoc on your tax return.

IRS adds multiple vehicles to its list of plug-in electric motor drive vehicles for purposes of the section 30D credit.

Matt Talcoff, RSM partner and national industry tax leader, and GrowthTV discuss the tax issues family offices should consider in 2021.

Tennessee district court holds credit against fuel excise taxes, reduces excise tax liability and must be deducted from production costs.

The case explains the IRS’ view of the requirements to establish substantial rights for work performed under contract for the R&D credit.

Employers impacted by COVID-19 may be eligible for payroll tax credits and deferrals reportable on their quarterly payroll tax returns.

The Employee Retention Tax Credit was significantly expanded by the federal relief and stimulus package finalized Dec. 27, 2020.

Final air transportation excise tax regulations provide rules for aircraft management services exemption and update prior regulations.

New Jersey Gov. Phil Murphy has approved a bill that authorizes over $14 billion in business tax credits and incentives.

The IRS issued the final regulations for the section 45Q carbon sequestration credit after reviewing public comments.

Disaster relief may provide liquidity for individuals and businesses located in areas affected by presidentially declared disasters.

Georgia has expanded the state jobs tax credit to apply to businesses hiring telecommuting employees in 2020 or 2021.

The continuity safe harbor of the beginning of construction requirement is extended to energy credits for offshore or federal land projects.

Guidance permits tax relief for fuel removed from terminals in Milwaukee or Madison and entered into Green Bay terminals through 2021.

Industry backed legislation passed by Congress to make permanent excise tax rate reductions for craft beer, wine, and distilled spirits.