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AICPA

The AICPA Requests Administrative Guidance by the Department of Treasury Governing the Enhanced R&D Tax Credit Program

The American Institute of Certified Public Accountants (“AICPA”) has requested of the Department of Treasury and the Internal Revenue Service (“Service”) to issue some form of immediate administrative authority governing the enhanced R&D Tax Credit Program (“RTCP”) in connection to qualifying Small Businesses and qualifying Start-Up Companies to accurately calculate the R&D Tax Credit from

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IRS, Governing TPR Compliance, Internal Revenue Service,Audit Techniques Guide

The Service Issues New Administrative Authority Governing TPR Compliance

The Internal Revenue Service (hereinafter the “Service”) recently issued IRS Notice 2017-6 in connection to Tangible Property Regulations Compliance (hereinafter “TPR Compliance” or “Regulations”) that extended a specific eligibility provision for taxpayers making an automatic change of accounting method providing an opportunity to continue to take advantage of the Regulations on their 2016 tax returns.

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Construction Tax Planning

Peter J. Scalise guest lectured on Construction Tax Planning in Las Vegas

  Peter J. Scalise, the Federal Tax Credits & Incentives Practice Leader for PM Business Advisors recently guest lectured on Construction Tax Planning at the AICPA Real Estate & Construction Conference at the Wynn in Las Vegas, NV on Wednesday, December 7th. Due to popular demand, Peter J. Scalise will  continue providing complimentary consultations for

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Peter J. Scalise, R&D Tax Credit Program, CPA Magazine

Federal Tax Advisory R&D Tax Credit Update

The Enhanced R&D Tax Credit Program The Protecting Americans from Tax Hikes Act of 2015 (hereinafter the “PATH Act”) significantly enhanced the R&D Tax Credit Program (“RTC”) on a myriad of levels by making the RTC a permanent tax incentive within the Code and considerably restructured the program to: • Allow eligible “Small Businesses” (i.e.,

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IRS, Governing TPR Compliance, Internal Revenue Service,Audit Techniques Guide

Attention Internal Use Software R&D Tax Credit Claim Filers- Final Treasury Regulations Issued

On October 3rd of 2016, the Internal Revenue Service (hereinafter “the Service”) issued Final Treasury Regulations setting forth guidance on research and development efforts in connection to Internal Use Software (hereinafter “IUS”) for purposes of claiming the Research & Development Tax Credit (hereinafter “RTC”) under I.R.C. § 41. The newly issued Final Treasury Regulations are

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New Jersey

New Jersey Governor Chris Christie Announces Tax Cut and Gas Tax Increase Agreement

On Friday, September 30th New Jersey Governor Chris Christie and Senate President Steve Sweeny announced agreement on a new tax plan.  The tax plan contains numerous provisions; most noticeably the state will be increasing its gasoline tax and reducing the state sales tax rate. New Jersey currently imposes the second lowest state tax on gas

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IRS, Governing TPR Compliance, Internal Revenue Service,Audit Techniques Guide

The Service Issues New Administrative Authority Governing TPR Compliance

The Internal Revenue Service (hereinafter “IRS”; or “the Service”) recently issued on September 14th of 2016 an Audit Techniques Guide (hereinafter “ATG”) governing Tangible Property Regulations Compliance (hereinafter “TPR Compliance”). As a synopsis, an ATG provides a meaningful framework for IRS examiners during audits by providing insight into tax issues and accounting methods unique to

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