News & Updates

R&D Tax Capitalization Amendment Status (May 2024 Update): The “Tax Relief for America Families & Workers Act of 2024” (H.R.7024)

As a recent status update on the pending R&D capitalization amendment bill (“Tax Relief for America Families & Workers Act of 2024”,...

CARES Act Payroll Tax Deferral / R&D Tax Credits Simultaneous Benefit Claims

IRS draft Form 941 instructions clarify payroll tax deferral & R&D tax credit payroll offset claims made simultaneously

Georgia Bill (HB1035) Passes to Reduce or Repeal Various Business Tax Incentives (e.g. R&D Credits)

On Thursday, June 18, 2020, the Georgia Senate Finance Committee voted to pass HB1035 which eliminates dozens of valuable tax incentives.

Apparel Designer Unable to Establish "Process of Experimentation" Denied $2.4M CA R&D Tax Credits

California Office of Tax Appeals (OTA) Denies Apparel Designer $2.4M CA R&D Tax Credit Refund Claim

COVID-19 CARES Act: The Good [forgivable loans / credits], Bad [no double benefit], & Ugly [taxes]

Tax Implications: Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Public Law 116-136, 134 Stat. 281, 286-93 (March 27, 2020)

IRS Notice 2020-18 (COVID-19): Fed Income Tax Returns & Payments Due 4/15 Postponed to 7/15

Coronavirus Impact: U.S. Tax Court Cancels March 2020 Sessions

After assessing relevant factors regarding coronavirus disease 2019 (COVID-19), U.S. Tax Court has cancelled specified 2020 March sessions.

New Businesses Fail to Claim R&D Tax Credits Against Payroll Taxes ($250,000 per year)

The R&D tax credit payroll-tax offset allows companies ("qualified small business") to receive a benefit for research expense activities...

Tax Court Stresses Documentation Requirement for R&D Tax Credit Eligibility

On April 15, 2019, the United States Tax Court ruled in favor of the commissioner in Siemer Milling Company (Siemer Milling) v....

IRS Establishes Protocols for Misdirected Refunds in New Rules

New IRS regulations lay out the agency’s procedures for dealing with situations where tax refunds are deposited into the wrong account....

Tax Extenders 2020 Impact: Taxpayer Certainty & Disaster Relief Act of 2019

Early Holiday Gift: Congress Passes Tax Certainty and Disaster Relief Act of 2019

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