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New Taxpayer Relief – 2020 Tax Deadline Extensions

New Taxpayer Relief – 2020 Tax Deadline Extensions

The Internal Revenue Service has announced that they are delaying the April 15th filing deadline to May 17th for all individual 2020 tax returns. In a statement, IRS Commissioner Chuck Rettig indicated the decision was made in recognition of the fact that most of the...

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Funded R&D – Rights – Tangel Case R&D Tax Credits

Funded R&D – Rights – Tangel Case R&D Tax Credits

In a recent Tax Court case, Tangel v. Commissioner, T.C. Memo. 2021-1 (Jan 2021), the Tax Court concluded that the taxpayer who claimed the R&D tax credit did not retain substantial rights and thus the R&D work was 'funded' and the R&D tax credit...

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Sec 45L Energy Credit and the Election

Sec 45L Energy Credit and the Election

In June 2020, a House bill was introduced referred to as the Moving Forward Act which would extend the Section 45L Energy Tax Credit for energy efficient homes through 2025. The bill would also increase the energy tax credit to $2,500 per unit/home and update the...

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45L Energy Credits in new House Bill – July 2020

45L Energy Credits in new House Bill – July 2020

In the first week of July 2020, The House of Representatives continued to advance the Moving Forward Act (H.R. 2) – the $1.5 trillion infrastructure proposal led by House Democrats. New programs created by H.R. 2 include a major extension and expansion of the Energy...

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Populous Contracts are Not Funded R&D for R&D Tax Credit

Populous Contracts are Not Funded R&D for R&D Tax Credit

In a December 2019 motion, the taxpayer Populous Holdings, an architectural design firm, won the motion allowing them to claim the R&D tax credit on its contracts with clients. Populous claimed the R&D tax credit for architectural work it does for clients and...

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Find out if you qualify for valuable
Tax Credits for?

Find out if you qualify for valuable
Tax Credits for?