This year, when you file your 2014 return, you may notice a few new tax forms that need to be completed. The new forms reflect the additional compliance requirements mandated by the Affordable Care Act. Now that it has become part health law and part tax law, you will either
Research to develop computer software for internal use (internal use software) is excluded from the definition of qualified research for purposes of the Research and Experimentation Tax Credit (R&E). The IRS issued proposed regulations on January 16, 2015 on various aspects of internal use software. Whether software is not developed
On January 16, 2015, the Internal Revenue Service filed Revenue Procedures 2015-13 and 2015-14. These were released to give guidance on how taxpayers can apply for advance consent from the service for automatic and non-automatic changes in their methods of accounting. For 2014 tax filings, this has been a topic
By Kristen Howard, CPA The medical device tax could be repealed by the end of March 2015. The medical device tax was designed as a way to pay for “Obamacare”. A new bill was introduced by Rep. Erik Paulsen (R-Minn.) that would eliminate the 2.3% tax and refund companies for
Many Kentucky business owners are delightfully surprised to learn about the generous incentives offered to business. These incentives and tax credits are available for typical day to day activities, such as hiring new staff and technology upgrades and improvements to less common business activities, like large-scale recycling endeavors. To help
The Michigan Supreme Court’s July 2014 decision in International Business Machines Corp. v. Department of Treasury (IBM) that taxpayers could validly make an election to apportion business income under the MBT (2008-2011) using the Multistate Tax Compact’s (the Compact) 3-factor apportionment formula started an avalanche of Michigan MBT refund requests.