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UNDER THE DOME

Tax Extenders Clear the Senate Finance Committee Includes Expansions for the R&D Tax Credit and Section 179D On July 21, the Senate Finance Committee took the first major steps on tax extenders legislation—which includes important provisions such as the R&D Tax Credit and the Energy-Efficient Commercial Building Deduction(Section 179D)—by approving a tax extenders bill on…

IRS Changes CIC Process; May Slow Down Audits for Large Taxpayers

The IRS recently announced a new process to risk-assess Coordinated Industry Cases (CIC), which are cases reserved for taxpayers with large gross receipts, gross assets and operating entities large enough to require systematic auditing. Rather than automatically examining them every cycle under a continuous audit, the IRS will review these taxpayers case by case. Hopefully,…

EYE ON THE EXECUTIVE

Unauthorized Access to 100,000 Tax Accounts on “Get Transcript” Application on IRS.gov On May 26, the IRS announced that taxpayer data was acquired by criminals from non-IRS sources to gain unauthorized access through the Internal Revenue Service’s “Get Transcript” application for information on approximately 100,000 tax accounts. The data used to gain the access included…

UNDER THE DOME

In late May, Congress was faced with the expiration of the highway bill and postponed any long-term solution for two months with a new deadline of July 31. However, during the discussions leading up to the temporary funding of the highway bill, several ideas surrounding taxes were floated. House Majority Leader Kevin McCarthy (R-CA) proposed…

U.S. Supreme Court Rules for Taxpayers in Wynne

In a 5-4 decision, the U.S. Supreme Court recently ruled in favor of taxpayers in Comptroller v. Wynne. Mr. and Mrs. Wynne, both Maryland residents, were shareholders in an S corporation that conducted business in close to 40 states. In filing their 2006 Maryland income tax return, the Wynnes claimed a credit for taxes paid…

R&D Tax Credit – Update on Extension

By Dean Zerbe, former Senior Counsel to the U.S. Senate Finance Committee and alliantgroup National Managing Director The R&D Tax Credit was part of the tax extenders package that was signed into law at the end of last year. That legislation extended the credit (as well as a number of other tax extenders) until 12/31/2014—so…

Medical Device Excise Tax

by Ian Merwin, alliantgroup Associate The Medical Device Excise Tax was one of the many new taxes that came in with the Affordable Care Act in 2010. It places a 2.3% tax on the sale of certain medical devices by the manufacturer or importer of the device. The tax has been the target of much…

Webinar: OVDP & FATCA – Avoiding the Penalties at all Costs

Tuesday, April 29, 2014 12:00 – 1:00 PM CDT Register Now alliantgroup presents a CPE certified webinar on Offshore Tax Compliance including an overview of the Foreign Account Tax Compliance Act (FATCA) and IRS Offshore voluntary compliance programs. We stand at a key juncture in the IRS efforts to root out those who have undisclosed…
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© 2023 alliantNational.- All Rights Reserved.

aNlogo-footer3@2x

Washington D.C.
Willard Office Building, Suite 300 1455 Pennsylvania Ave.
Washington, D.C. 20004
202.888.7006

© 2023 alliantNational. - All Rights Reserved.

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