Senate Must Move Forward on Expired Tax Provisions

Congress returned from recess on Sept. 8th and may be forced to tackle the 50+ provisions that expired at the end of 2013. However, legislation probably will not be passed until after the upcoming midterm elections. Amongst these provisions are:

  • Research Tax Credit
  • New Market Tax Credit
  • Bonus Depreciation
  • Increased Section 179 Expensing Limits
  • Energy Efficient Commercial Buildings Deduction

The bill EXPIRE, introduced earlier this year, was approved by the Senate Finance Committee extending some provisions for two years, while others would be permanently extended. However, the bill has been held up in the Senate while the Republicans and Democrats struggle to come to an agreement. By the end of the year, we have high hopes that most of them will somehow be retroactively.

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Engineered Tax Services (ETS) is a licensed engineering firm with extensive experience in engineering based specialty tax services spanning the U.S., yielding substantial tax incentives for companies of all sizes. ETS is one of the only qualified engineering firms with its own Professional Engineers, LEED Accredited Professionals, Certified Public Accountants, Licensed Contractors, and Architects on staff. ETS can provide a full range of specialty tax incentives and analysis including Cost Segregation, 263(a) Repairs vs. Capitalization, Research & Development Tax Incentives, Disposition Studies, 179D EPAct, 45L, utility rebates and refunds, energy audits, modeling and LEED certifications. ETS is fully Circular 230 compliant, with over 100 years combined experience in energy modeling. Since the inception of ETS, with a team of in-house engineers and accountants, ETS has averaged over $44 million per month in refunds for clients, equating to hundreds studies for Fortune 500 clients and CPA firms nationally.

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