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306, 2014

Temporary Regs – ASC on Amended Returns

By |June 3rd, 2014|Tax alert|0 Comments

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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

RIN 1545-BL79

Alternative Simplified Credit Election

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Final and temporary regulations.

SUMMARY: This document contains final and temporary regulations relating to the election of the alternative simplified credit. The final and temporary regulations will affect certain taxpayers claiming the credit. The text of these temporary regulations also serves as the text of the proposed regulations (REG-133495-13) published in the Proposed Rules section in this issue of the Federal Register.

DATES: Effective Date: These regulations are effective on .

Applicability Date: For dates of applicability, see §1.41-9T(d).

FOR FURTHER INFORMATION CONTACT: David Selig (202) 317-4137 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background
This document amends 26 CFR part 1 to provide rules relating to the election of the alternative simplified credit (ASC) under section 41(c)(5) of the Internal Revenue Code (Code).

Section 41(a) provides an incremental tax […]

304, 2014

Everything We Wanted is in ExtendersTax Extenders – Oh Happy Day!

By |April 3rd, 2014|Tax alert|0 Comments

By Dean Zerbe, alliantgroup National Managing Director

Today the Senate Finance Committee (where I was Senior Counsel and Tax Counsel for over 7 years) took the first key step on tax extenders – including the R&D Tax Credit and the Energy Efficient Commercial Building Deduction (Section 179D) – by passing out a tax extenders bill with good bipartisan support.

R&D Tax Credit – In!

alliantgroup has been predicting for a long time that we expected the Congress to extend R&D and do it without a break (seamless) – and that is exactly what has happened. The extension is retroactive to when it expired and runs until December 31, 2015.

Expansions of R&D Tax Credit!!

Holy smokes. The Finance Committee agreed to an amendment by Senators Schumer (D-NY) and Roberts (R-KS) (who spoke at an alliantgroup thinktank), as well as a number of other Senators that, in effect, makes the R&D tax credit refundable (although capped). […]

2103, 2013

alliantgroup shares views on the proposed tax reform options from the Senate Finance Committee

By |March 21st, 2013|Tax alert|0 Comments

Senate Finance Committee Staff works to simplify the tax system for families and businesses

HOUSTON, March 21, 2013 /PRNewswire/ — Mark W. Everson , Former IRS Commissioner and alliantgroup Vice Chairman, Dean Zerbe , former Senior Tax Counsel to the U.S. Senate Committee on Finance, and Dhaval Jadav , alliantgroup CEO, agree that the proposed tax reform will come of great benefit in a time of increasing demands on tax administration.
The Internal Revenue Service (IRS) mission statement reads as follows: “Provide America’s taxpayers top quality service by helping them understand and meet their tax responsibilities and enforce the law with integrity and fairness to all.” The Senate Finance Committee Staff has presented a staff discussion tax reform which they believe will allow the IRS to accomplish its mission statement more fairly, efficiently, and effectively.

“I welcome anything that can be done to simplify the tax code and improve tax administration. A […]

107, 2011

alliantgroup’s Dean Zerbe, Benjamin Yaker and David Ji published in Thomson Reuters

By |July 1st, 2011|Tax alert|0 Comments

New Law Opens Door for Businesses to Take R&D Tax Credit and Other General Business Credits

The elimination of the alternative minimum tax bar to general business credits allows small and medium businesses to take advantage of these credits—often for the first time.

By: Dean Zerbe, Benjamin Yaker, and David Ji

The Small Business Jobs Act of 2010 (Jobs Act), signed into law in late September 2010, provides a little-reported change in the tax laws that can have a big impact on the ability of small and medium businesses to claim general business credits such as the research and development (R&D) tax credit. 

The bad old days

The great barrier […]

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