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December 5, 2012, Final Taxable Medical Device Excise Tax Regulations

On December 5, 2012, The Internal Revenue Service promulgated final regulations and guidance (Notice 2012-77) for the Taxable Medical Device excise tax (Internal Revenue Code § 4191), established as part of President Obama’s signature healthcare reform. The new tax, which takes effect January 1, 2012, is a 2.3% excise on the sale price of certain…

IRS Guidance Priority List for 2012-2013 Released November 19th

The IRS released its Guidance Priority List for the 2012-2013 on November 19th. The Treasury Department’s Office of Tax Policy and IRS use the list to identify and prioritize the tax issues that should be addressed through published administrative guidance. The 2012-2013 plan places significant emphasis on the implementation of the healthcare laws with eighteen…

IRS Officials Announces Need for Greater Focus on Pass-Through Entities & Comments on the Future of Tiered Issues

At the New York University Annual Tax Controversy Forum on June 15, 2012, representatives from two enforcement divisions of the I.R.S. stated that there needs to be more attention paid to pass-through entities, such as LLCs and S Corporations. Faris Fink, I.R.S. Commissioner for Small Business and Special Entities (SB/SE) stated (Tax Notes pay-wall link)…

Georgia Expands R&D Credit Against Payroll Tax to All Eligible Companies

In early May, the Georgia Legislature renewed and expanded its commitment to bringing innovation home. HB 868 , signed into law on May 3, 2012, contained a number of job-enhancing credits, including an amendment to the State research and development credit. The Georgia R&D credit contains a particularly favorable provision that allows a taxpayer to…
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aNlogo-footer3@2x

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

© 2022 alliantNational. - All Rights Reserved.

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