by Joyce Kandt | Nov 14, 2023 | tax
There have been many uncertainties and questions regarding the treatment of Internal Revenue Code (IRC) 41, Credit for Increasing Research Activities, as changes to IRC 174, Amortization of Research and Experimental Expenditures, came into play in tax year 2022. ... 
by Joyce Kandt | Nov 14, 2023 | tax
On September 14, 2023 the IRS announced a pause in accepting any new Employee Retention Credit (ERC) claims through the end of 2023 due to the large number of highly questionable ERC claims filed. There were a number of aggressive service providers who mislead... 
by Joyce Kandt | Nov 13, 2023 | tax
On January 3, 2022, the Internal Revenue Service (IRS) Office of Chief Counsel released Interim Guidance stating that taxpayers will be required to include additional documentation for a research credit claim for refund to be considered valid. Specifically, the new... 
by Joyce Kandt | Jun 2, 2023 | tax
The research and development (R&D) tax credit was enacted in 1981 and has since granted substantial financial benefits to eligible businesses. Over the years there have been changes to the legislation regarding the R&D Tax Credit, but it was ultimately made... 
by Joyce Kandt | Mar 22, 2023 | tax
The Farm Bill The Agricultural Improvement Act of 2018 (the Farm Bill) made cannabis-derived products such as industrial hemp and CBD (cannabidiol) legal at the federal level as long as it did not exceed 0.3% THC (tetrahydrocannabinol). Cannabis products below the... 