by admin | Jun 18, 2011 | Blog
The IRS last week published new final regulations relating to the Alternative Simplified Credit or ASC under Section 41(c)(5) which has been around since 2006. This calculation avoids having to go back to the 1980s base years and instead uses a rolling prior 3 year...
by admin | Feb 25, 2011 | Blog
In the first Tax Court case opinion on Section 199 deduction activities, the Tax Court today sided with the taxpayer in Gibson & Associates, Inc. v. Commissioner, 136 T.C. No. 10 (February 24, 2011). The taxpayer undertook three types of construction projects in...
by admin | Feb 12, 2011 | Blog
The Section 199 Deduction is a valuable tax deduction for domestic production and manufacturing activities to incentivize retaining manufacturing jobs in the U.S. The definition of ‘production’ is also broad and also applies to software development and...
by admin | Jan 26, 2011 | Blog
Last night, President Obama focused squarely on innovation and R&D in the first third of his State of the Union address. Obama emphasized that the country faced a “Sputnik moment” and set goals around innovation, basic research funding, clean energy...
by admin | Dec 17, 2010 | Blog
The tax extenders package, which includes the R&D tax credit, was passed in the House last night and the President is expected to sign the bill later today. The package includes application of the R&D tax credit retroactive to January 1, 2010 and extends the...
by admin | Dec 8, 2010 | Blog
In a Motion file with the Tax Court on Monday December 6, 2010, the IRS agreed that Hewlett-Packard Co. does not need to include amounts accrued from its controlled foreign subsidiaries (CFSs) in computing its gross receipts for purposes of the Research Credit, which...
