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Washington Tax Update : Tax Reform Progress & IRS Layoffs

Matt McKinney February 21, 2025

Washington Tax Update: Tax Reform Progress & IRS Layoffs The month of February has brought a significant amount of news regarding both the push for new tax policy in the legislative agenda but also changes to the administrative arm of tax policy. While the news might insinuate that major changes are advancing quickly, the actual events are more nuanced. Here are some highlights and observations from the recent news coming out of Washington. Advancing Tax Policy Legislation The House Budget

IRS Proposes Changes to Form 6765 for R&D Tax Credits

IRS Proposes Changes to Form 6765 for R&D Tax Credits: What You Need to Know The IRS has proposed

Deb Roth, CPA February 11, 2025

Georgia State Research Credit Carryforward Period Update

Georgia State Research Credit Carryforward Period Update The state of Georgia has announced a change to the carryforward period for

Source Advisors January 1, 2025

stack of newspapers with news of source advisors

Election Results: A Look Forward to the Potential Tax Changes

Election Results: A Look Forward to the Potential Tax Changes The November 5th election results indicate that former President

Matt McKinney November 11, 2024

R&D

Georgia State Research Credit Carryforward Period Update

Georgia State Research Credit Carryforward Period Update The state of Georgia has announced a change to the carryforward period for

Source Advisors January 1, 2025

R&D

Upcoming Changes to Form 6765: What Taxpayers Need to Know for 2024 and Beyond

Upcoming Changes to Form 6765: What Taxpayers Need to Know for 2024 and Beyond The Internal Revenue Service (IRS) is

Deb Roth, CPA October 2, 2023

R&D

Chief Counsel Advice Memorandum 20214101F

Chief Counsel Advice Memorandum 20214101F On Friday, October 15th, 2021, the Internal Revenue Service published Chief Counsel Advice Memorandum 20214101F. In

Deb Roth, CPA August 2, 2023

cost segregation operating loss paperwork

R&D | Cost Seg

House of Reps Unveiled Three Proposed Tax Bills

House Bills Spur Discussion of Business Tax Extenders On Friday, June 9, 2023, the House of Representatives unveiled three proposed

Brian Coddington June 12, 2023

R&D

Revised IRS Procedural Guidance Released

R&E Amortization Updates On December 12th, 2022, the Service released an advance copy of Rev. Proc. 2023-8, which provides procedural

Brian Coddington December 13, 2022

R&D

R&E Amortization Updates

R&E Amortization Updates In 2017, Congress passed the Tax Cuts & Jobs Act (TCJA)[1]. As part of the act, Congress

Brian Coddington December 8, 2022

COST SEGREGATION

Cost Seg

Net Operating Losses Vs. Passive Activity Losses for Cost Segregation

Net Operating Losses Vs. Passive Activity Losses for Cost Segregation When the CARES Act temporarily revived five-year Net Operating Loss

Brian Coddington July 29, 2023

R&D | Cost Seg

House of Reps Unveiled Three Proposed Tax Bills

House Bills Spur Discussion of Business Tax Extenders On Friday, June 9, 2023, the House of Representatives unveiled three proposed

Brian Coddington June 12, 2023

Cost Seg

The Final Bonus Depreciation Regulations

The Final Bonus Depreciation Regulations On September 21, 2020, the IRS released an advance copy of the final bonus depreciation

Greg Bryant September 28, 2020

Cost Seg

The Current State of ADS Under the TCJA and CARES ACT

The Current State of ADS Under the TCJA and CARES ACT Introduction to the ADS The Alternative Depreciation System is

Greg Bryant September 20, 2020

Cost Seg

Proposed Section 1031 Regulations

Proposed Section 1031 Regulations On June 12th, 2020, the Treasury published REG-117589-18 in the Federal Register. These proposed reliance regulations provide guidance

Greg Bryant June 27, 2020