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House of Reps Unveiled Three Proposed Tax Bills

Brian Coddington June 12, 2023

House Bills Spur Discussion of Business Tax Extenders On Friday, June 9, 2023, the House of Representatives unveiled three proposed tax bills. We view these bills as an opening offer, unlikely to pass in their present form, but they will inform later Congressional debate. In this summary, we will focus on the aspects of these bills related to federal income tax accounting methods and credits. Only H.R. 3938 “Build It In America Act” and H.R. 3937 “Small Business Jobs Act”

Section 174

IRS Drops Last-Minute Guidance on §174 Research Amortization

IRS Drops Last – Minute Guidance on §174 Research Amortization On Friday, September 8, 2023, the Internal Revenue Service (IRS)

Brian Coddington September 15, 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 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

§179D | §45L

Inflation Reduction Act Tax Savings For Real Estate

Inflation Reduction Act Tax Savings for Real Estate On Tuesday, August 16, 2022, the Senate passed the Amendment of H.R. 5376,

Brian Coddington, Imran Syed July 21, 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

R&D

R&D | §179D

New Bill Outlines Covid Relief and Economic Stimulus Provisions

New Bill Outlines Covid Relief and Economic Stimulus Provisions Congress passed the Appropriations bill, which included the latest Covid relief

Deb Roth, CPA December 12, 2020

R&D

California Legislature Passes AB 85 and Suspends the Usage of New-Operating Losses

California Legislature Passes AB 85 and Suspends the Usage of New-Operating Losses California’s Legislature recently passed AB 85, a budget

Source Advisors July 15, 2020

R&D

VA Extended Application Deadline to September 1, 2020

VA Extended Application Deadline to September 1, 2020 In a recent legislative update, the Virginia General Assembly modified the two

Source Advisors June 18, 2020

R&D | Cost Seg

Tax Cuts and Jobs Act and Section 1031 Like Kind Exchanges Revisted

Tax Cuts and Jobs Act and Section 1031 Like Kind Exchanges Revisited The Question Following the passage of Public Law

Brian Coddington October 14, 2019

R&D

Reminder: Minnesota Increased its R&D Tax Credit Rate

Reminder: Minnesota Increased its R&D Tax Credit Rate For tax year 2017 and forward, companies spending significant research dollars in

Source Advisors January 25, 2019

R&D

Tax Cuts and Jobs Act Impacts R&D Tax Credit

Tax Cuts and Jobs Act Impacts R&D Tax Credit Given the recent passage of the Tax Cuts and Jobs Act,

Source Advisors February 18, 2018

COST SEGREGATION

Cost Seg

Treasury Releases Green Book

Energy Efficient Commercial Buildings Deduction On Friday, May 28th, 2021, the Treasury Department released the Green Book, also known as the

Brian Coddington June 4, 2021

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

Cost Seg

Rev. Proc. 2020-22 Changes to the Section 163(J) Interest Limitation

Rev. Proc. 2020-22 Changes to the Section 163(J) Interest Limitation On April 10th, 2020, the Internal Revenue Service posted Rev.

Greg Bryant April 27, 2020

Cost Seg

Rev. Proc. 2020-25 The “Retail Glitch” Fix: Implementation

Rev. Proc. 2020-25 The “Retail Glitch” Fix: Implementation On Friday, April 17th, 2020, the Internal Revenue Service posted Rev. Proc. 2020-25

Greg Bryant April 20, 2020

§179D

179D

Energy Efficient Commercial Buildings Deduction

Energy Efficient Commercial Buildings Deduction On December 27, 2020, a $1.4 trillion omnibus spending bill with tax extenders was signed

Imran Syed December 30, 2020

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Explore Recent Tax News

House of Reps Unveiled Three Proposed Tax Bills

IRS Drops Last-Minute Guidance on §174 Research Amortization

Chief Counsel Advice Memorandum 20214101F

Net Operating Losses Vs. Passive Activity Losses for Cost Segregation

Inflation Reduction Act Tax Savings For Real Estate

Revised IRS Procedural Guidance Released

R&E Amortization Updates

R&D

New Bill Outlines Covid Relief and Economic Stimulus Provisions

California Legislature Passes AB 85 and Suspends the Usage of New-Operating Losses

VA Extended Application Deadline to September 1, 2020

Tax Cuts and Jobs Act and Section 1031 Like Kind Exchanges Revisted

Reminder: Minnesota Increased its R&D Tax Credit Rate

Tax Cuts and Jobs Act Impacts R&D Tax Credit

COST SEGREGATION

Treasury Releases Green Book

The Final Bonus Depreciation Regulations

The Current State of ADS Under the TCJA and CARES ACT

Proposed Section 1031 Regulations

Rev. Proc. 2020-22 Changes to the Section 163(J) Interest Limitation

Rev. Proc. 2020-25 The “Retail Glitch” Fix: Implementation

§179D

Energy Efficient Commercial Buildings Deduction

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