Post to be shown on Resources -> Newsroom -> Tax alert page
306, 2014
Temporary Regs – ASC on Amended Returns
4830-01-p]
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 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
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
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 […]