Employee Retention Credit (ERC) processing is progressing since the moratorium began last year. If your company claimed the ERC and you have not received your refund, have received a denial notice, or received a letter initiating an audit, it is time to take proactive steps to ensure you receive your refund IF you have a...Read More

In a landscape where businesses are constantly seeking ways to minimize their tax burdens while contributing to social good, the Work Opportunity Tax Credit (WOTC) stands out as a powerful tool. This federal tax credit not only incentivizes employers to hire individuals from targeted groups facing barriers to employment but also supports economic growth and...Read More

For tax years beginning after December 31, 2021, specified research and experimental expenditures (“SRE”) under IRC §174 are required to be capitalized and amortized. The amortization period is 5 years for domestic expenditures and 15 years for foreign expenditures.Read More

The IRS has published several news releases over the past couple of weeks, summarizing its review of Employee Retention Credit (ERC) claims.Read More

Earlier this year, the Eighth Circuit Court of Appeals upheld a lower tax court decision denying research and development credits on the basis that a taxpayer’s contracts were considered “funded.” The case in question, Meyer, Borgman & Johnson, Inc. v. Comm'r of Internal Revenue, No. 7805-16 (U.S.T.C. Nov. 19, 2020).Read More

On August 1st, the Senate voted against the Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) by a vote of 48-44. The bill, which previously passed the House overwhelmingly 357 to 70, would have restored crucial research and experimentation (“R&E”) deductions for taxpayers, as well as other tax relief for businesses.Read More

In the world of employment incentives, there exists an impactful, yet often overlooked tax credit that takes on the spirit of the Olympics by empowering individuals and promoting diversity.Read More

The IRS announced tax relief for individuals and businesses in 67 Texas counties affected by Hurricane Beryl. Read how this relief may apply to you.Read More

New budget legislation, SB 167, passed by the California Legislature on June 13th and signed into law by the governor on June 27, 2024 will have significant impacts on taxpayers by suspending net operating loss (NOL) deductions and limiting the utilization of credits from 2024 through 2026.Read More

As the markets continue to adjust to a post-pandemic world with high interest rates and inflation, multi-family new construction projects and acquisitions remain an area of growth. As more investors move into this area, maintaining a competitive edge is more important than ever, and taking advantage of cost segregation and its benefits can give investors...Read More