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What’s happening with the Inflation Reduction Act with the incoming Trump Administration?

We are often asked by our clients what may happen to the Inflation Reduction Act (IRA) given the incoming Republican …

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Significant changes to IRS Form 6765 and R&D credit refund process

The Internal Revenue Service (IRS) has announced important revisions to Form 6765, “Credit for Increasing Research Activities,” and modifications to …

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Purchasing tax credits to reduce tax liability

The Inflation Reduction Act (IRA) of 2022 introduced several measures to address climate change. It also aimed to tackle healthcare …

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Understanding the Inflation Reduction Act

Watch our on-demand webinar as we explore the fundamentals of the Inflation Reduction Act (IRA) and its significant implications for businesses in the renewable energy sector.

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Section 174 R&D cost capitalization updates from the IRS

Notice 2023-63, Notice 2024-12 and Revenue Procedure 2024-9 Main takeaways Notice 2023-63 provides additional context and examples related to the …

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BPM Tax Update: IRS delays processing of new employee retention credit claims

On September 14, 2023, the IRS issued News Release IR-2023-169, which imposes a moratorium on processing employee Retention Credit (ERC) …

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Three strategies for lowering your tax liability under the new R&D tax rules

For tax years ending December 31, 2021 and prior, companies could deduct their entire research and development (R&D) costs on …

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IRC Section 174 research or experimental expenditures and 2022 capitalization requirements

Introduction The Tax Cuts and Jobs Act (“TCJA”), passed in December of 2017, enacted an important provision that has provided …

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Do you qualify for the employee retention credit?

Introduced through the CARES Act of 2020, the Employee Retention Credit (“ERC”) is a fully refundable payroll tax credit meant …

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