R&D Tax Credits for Food and Beverage Companies
Food manufacturers should look closely at the R&D tax credit even if, in the past, they did not believe their activities in developing new products or processes qualified as technological research.
Published on October 01, 2013
Statistical Sampling in Federal Tax Filings
Numerous tax agencies—state, federal, and foreign—have published guidelines for taxpayer use of sampling for estimating values that are reported or claimed on tax returns.
Published on October 01, 2012
TIGTA Test Uncovers Significant Errors in Returns Prepared by Unenrolled, Unlicensed Preparers
...auditors posing as taxpayers paid to have individual tax returns prepared by 28 unenrolled, unlicensed tax preparers. TIGTA found significant errors in most of the returns prepared in the test
Published on November 01, 2008
IRS Releases Final Regulations and Interim Guidance on Medical Device Excise Tax
Treasury published final regulations and additional interim guidance relating to the medical device excise tax.
Published on March 01, 2013
Using Statistical Sampling to Support the Sec. 199 Deduction
As the Sec. 199 deduction percentages are phased in to the full 9% for tax years beginning in 2010, taxpayers will be faced with greater opportunities to maximize their Sec. 199 deductions and increase compliance risk.
Published on May 01, 2009
New Subpart F Regs. Address Manufacturing Exception and Branch Rules
Treasury published final, temporary, and proposed regulations under Sec. 954 addressing the treatment of contract manufacturing arrangements and the branch rules applicable to foreign base company sales income (FBCSI), a type of subpart F income applicable to the sale of inventory.
Published on April 01, 2009
The Competent Tax-return Preparer
Published on March 10, 2011
TIGTA Report Studies Assessment and Enforcement of Sec. 6694 Paid Preparer Penalties
TIGTA studied how effective the IRS is in using the requirements and penalty regime that apply to tax preparers. The TIGTA study attempted to determine whether controls are in place to ensure that the IRS effectively enforces and applies penalties to paid preparers as required by Sec. 6694.
Published on January 01, 2014
Concerns About CPA Letters to Third Parties
A CPA receives a request from a client to provide a letter to the client’s mortgage broker, lender, adoption agency, or other third party. Is there any harm in the CPA signing the client’s suggested letter or writing one of her own?
Published on June 01, 2008
Why and How to Conduct a Tax Practice Inspection
A firm can use a tax practice inspection as a tool to test the quality of tax services provided to clients, to develop specific recommendations for improvement, and to prepare or update a tax services policies and procedures manual
Published on June 01, 2009