Explore our extensive library of tax resources put together by our industry thought leaders.
A Reverse Sales & Use Tax Audit (RSUTA) is a structured review of prior period purchase activity designed to identify and recover Sales & Use Tax overpayments as opposed to the traditional focus on underpayments in state audits. Whereas State initiated audits are aimed at detecting underpayments and assessing additional tax, penalties, and interest, a RSUTA is a taxpayer initiated
A Reverse Sales & Use Tax Audit (RSUTA) is a structured review of prior period purchase activity designed to identify and recover Sales & Use Tax overpayments as opposed to the traditional focus on underpayments in state audits. Whereas State initiated audits are aimed at detecting underpayments and assessing additional
Washington Business & Occupation (B&O) Tax is a tax imposed by the state of Washington on the privilege of doing business within the state. It is a tax on gross receipts, regardless of profit, and is based on the type of business activity being conducted. The tax is imposed on
A Reverse Sales & Use Tax Audit (RSUTA) is a structured review of prior period purchase activity designed to identify
Washington Business & Occupation (B&O) Tax is a tax imposed by the state of Washington on the privilege of doing
What is Cost Segregation? A cost segregation study might be thought of as an interest free loan that frontloads the depreciation
What is Cost Segregation? Cost segregation is a highly beneficial and widely accepted tax compliance strategy utilized by commercial real estate
With the extended tax return filing deadlines upon us, soon it will be planning season and time to flex your
I love video games. My kids love video games. Even my mom loves video games. What would quarantine be without
Many people think that R&D Tax Credits only apply to companies that require lab coats to be worn at the office. But
In a recent opinion, the U.S Tax Court rebuffed another attempt by the IRS to deny R&D Tax Credits to taxpayers.
Internal Use Software (IUS) includes software applications, operating systems and related resources used to run a business and serve customers.
Navigating the Murky Waters of Research Credits: The Impact of the Little Sandy Coal Ruling and IRS Audits In a recent legal development, the Seventh Circuit Court’s ruling on Little Sandy Coal Company, Inc. v. Commissioner (“LSC”) has created a climate of uncertainty around the federal income tax credit for
What Does the IRS Extending the R&D Tax Credit Claims Transition Period Mean? The IRS extended the transition period for taxpayers to perfect their refund claims for R&D Tax Credits through January 10, 2024. Taxpayers are now provided 45 days to perfect a research credit claim for a refund prior
State and local taxes affect every business in Illinois in one way or another. To ensure their clients remain tax compliant, it’s important for CPAs to know the fundamentals, red flags, and where to look for additional guidance. State and local taxes (SALT) refer to any tax that isn’t administered
Mastering State and Local Tax Planning Tax year planning for state and local taxes is a critical aspect of financial management for individuals and businesses alike. By mastering the complexities of state and local tax regulations, CPAs, CFOs, and business owners can optimize their tax strategies and minimize their tax
Understanding Section 174 and Its Impact Section 174 of the Internal Revenue Code governs the treatment of Specified Research or
What is Section 174? Section 174 of the Internal Revenue Code now defines the treatment of Specified Research or Experimental
Section 174 Changes Impact R&D Tax Credits for Software The new changes to Section 174 have a significant impact on
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