IRS Releases New Guidance on R&D Credit Refund Claim Procedure
The IRS released a memorandum and FAQs to provide procedural guidance regarding R&D credit refund claims on amended tax returns.
Tax Benefits of Opportunity Zone Funds
The proposed plan to increase long-term capital gains tax rates has motivated investors to seek opportunities to defer and reduce capital gains taxes. Opportunity Zone Funds have been increasing in popularity because of their ability to defer and reduce capital gains. Watch now to learn more about Opportunity Zone Funds.
Webinar Recording | Top 10 Tax Strategies for 2021
Join PBMares on November 3 to discover the top 10 tax strategies businesses should consider before year-end, including traditional tax strategies, remaining COVID-19 incentives, and opportunities expiring at year-end.
Nine Research and Development Tax Credit Myths Costing You Money
Misconceptions about the federal research and development tax credit leave many companies paying more tax than required.
Recent Tax Court Case Details Substantial Rights Related to R&D Credit
The case explains the IRS’ view of the requirements to establish substantial rights for work performed under contract for the R&D credit.
IRS Extends Timeline to Invest in Qualified Opportunity Funds
Source: RSM US LLP. PBMares is a member of RSM US Alliance. Notice 2020-23 automatically extends the timeline for investing in a Qualified Opportunity Fund (QOF) in light of the COVID-19 public health emergency.
Proposed Coronavirus Emergency Leave: Impact on Employers
On Friday the House of Representatives passed H.R. 6201, the Families First Coronavirus Response Act. The legislation will be voted on by the Senate this week. This act has bi-partisan support and is expected to pass quickly. Once enacted, this bill has implications for many of our clients.
News Update: Virginia Enterprise Zone Program (EZ) – New for 2019 and More Funding Available
The Virginia Enterprise Zone Program made a few changes for the 2019 grant year that may benefit Virginia companies IF they are located in an enterprise zone and installed solar panels in 2019.
The Ins and Outs of Opportunity Zones
The Tax Cuts and Jobs Act has provided a host of new regulations aimed at spurring economic development. One of those provisions that has flown under the radar throughout 2018 is the newly established qualified opportunity zones (O-Zones). The Department of Treasury recently released the long-awaited proposed regulations that help provide a level of clarity to ease investor uncertainties.
It’s a Good Time to Do Business in the Shenandoah Valley
From a regional perspective, the Shenandoah Valley has a diverse economy made up of numerous industries and no one dominant company. As a result, the [...]