Update on R&D Tax Credit 2014 Extenders Bill
On Thursday, 12/11, Senate Leader Harry Reid indicated he wanted a vote on the tax extenders including the R&D tax credit and many other expired provisions during this session of Congress before the break. The order of priority was passing a bill to keep the...
R&D Tax Credit – Tax Extenders Bill 2014 – Vote on Thursday
Congress is expecting a vote on HR 5771, on Thursday which would extend the R&D tax credit and energy efficient tax credit under Section 45L for one year - meaning both tax credits would be retroactively enacted for 2014 (but would not cover 2015 under this bill)....
45L Energy Efficient Tax Credit – What Properties Qualify?
To claim the Section 45L energy efficient tax credit for residential properties, the developer/owner must review what types of properties qualify as 'residential or a dwelling unit'' and we are often asked this question. Under the 45L criteria, the energy credit rules...
Favorable R&D Tax Credit Case Issued – Tax Court Option in Suder v. Commissioner
R&D Tax Credit Update 2014 - New Tax Court case on R&D credits rules favorably for taxpayer on almost all aspects of the case involving development of hardware and software. The taxpayer developed telephone equipment and related software and claimed the...
Texas R&D Tax Credit
The state of Texas has enacted a Research and Development Tax Credit. The law allows taxpayers to take a franchise tax credit for R&D expenditures or a sales and use tax exemption for the purchase or lease of depreciable tangible personal property used in...
Energy Efficient Tax Credit – Section 45L Key Criteria – Review of Heating/Cooling Systems
One of the important factors and data points in meeting the Section 45L energy tax credit criteria is heating and cooling, so this week we look at some of the terminology and factors that may get you as the developer a $2,000 per unit tax credit under the 45L energy...
ASC Alternative Simplified Credit on Amended Return – R&D Tax Credits
Under new IRS Regulations issued this week (T.D. 9666), taxpayers can now claim the R&D tax credit using the alternative simplified credit method, or ASC on amended tax returns. Previously this election to claim the ASC for R&D credits had to be made on...
R&D Tax Credit – Progress on Permanent Research Credit – House Bill Passes
In an overwhelming vote of 271 to 131, the House of Representatives passed a bill making the R&D tax credit permanent, rather than continuing to extend the R&D credit for 2 year periods which has been the norm for many years. Interestingly, the bill did not...
Energy Efficient Home Tax Credit – Sec. 45L – FAQ No. 1 – Who can claim the credit – Homeowner or Builder?
The energy tax credit under Internal Revenue Code Section 45L for energy efficient construction is a valuable tax credit for incentivizing using energy efficient lighting, HVAC, insulation, windows and other aspects that results in the home or apartment using less...
Key Factors in Meeting the Energy Efficient Home Requirements – 45L Energy Tax Credit
To obtain the valuable $2000 per unit energy tax credit under Code Section 45L, developers often ask us what are the key factors used in the modeling software to determine whether their buildings qualify under Section 45L for the credit. The software calculates...
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