Specialty Tax Updates & Tips to Get You Through This Tax Season

Final Repair Reg Accounting Method Change Procedures Issued (Rev. Proc. 2014-16)

Published by CCH Group

On January 24, 2014 the IRS issued Revenue Procedures, Rev. Proc. 2014-16 which provides further guidance pertaining to the final regulations surrounding the acquisition and improvements to tangible property. This guidance provides information on how to appropriately make elections under the final regulations, when a change of accounting method is appropriate, and automatic consents. CCH provided the following information as a synopsis and as always, ETS will work hard to ensure that our clients have every opportunity possible in regards to compliance, write-offs and proper component depreciation. If you have questions, please contact us anytime!

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An Overview of Energy Audit and Rate Reductions

Engineered Tax Services

As you may already know, energy tops the agenda for government and businesses in the United States. Driving these concerns for them are the fluctuating demand, constrained supply, volatile commodity prices and changing regulatory environments and the complex tax structure of today's energy industry. Learn how to capture substantial immediate savings and retroactive cash funds through the IRS, state and local governments and utility firms nationwide through energy tax incentives.

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Bipartisan Legislation Would Significantly Enhance the U.S. Research and Experimentation Tax Credit

By Peter J. Scalise, Published on TaxConnections

“Research and development is the lifeblood of great American companies, turning ideas into innovations that grow businesses and create good manufacturing jobs here at home. If we want to strengthen our manufacturing sector, we have to support innovation and entrepreneurship, particularly by startups that are creating the majority of new jobs…”

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What Lies Ahead for EPAct and the Energy Industry

With the expiration of 179D EPAct, there has been a lot of questions surrounding the extension of the deduction and the enactment of 179F. No on can be certain of the future of EPAct and it is likely that is may not become available again as we are seeing the focus on energy shifting towards other areas in the industry including energy research, bio-fuel, solar power and wind energy savings.

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5 Survival Tips for Tax Season

It is almost that time of year that we all look forward to, especially accountants buckling down with their survival kits! It goes without say that money and stress go hand in hand. For that reason it is easy to understand that the tax preparation season can be a stressful time of year for CPAs. Review these 5 tips to help reduce your stress and make it through this tax season.

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