Tag: Tax Law

tax law changes

President Biden’s Sweeping Proposed Tax Law Changes: Is This the Right Time?

On the night of Wednesday, April 28, President Biden addressed a joint session of Congress and unveiled the second portion of his Build Back Better agenda – the American Families Plan, a $1.6–$2 trillion social infrastructure/human capital initiative focused on fighting poverty, investing in childcare and education (free community college), improving workforce development, and potentially

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Comprehensive Overview: 2020 Tax Extenders Signed Into Law

Much of the nation’s attention has been focused on the second COVID-19 stimulus bill approved by Congress at the end of the year. However, the relief bill was combined with an omnibus budget bill that includes a number of tax extenders that provides tremendous benefit to taxpayers. Specifically, 22 temporary tax provisions were scheduled to

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Expansion and Permanent Status of the R&D Tax Credit

On Friday, December 18th, Congress unveiled the PATH Act (Protecting Americans from Tax Hikes Act of 2015) which not only includes a 2-year extension of many tax incentives such as the 179D EPAct but also the long awaited permanent status for others. A major highlight of this legislation involves the expansion and permanent status of

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Proposed Rules on Research & Development Tax Credit for Internal Software

On Friday, January 16, 2015, the Department of Treasury released proposed regulations for the R&D Tax Credit regarding the inclusion of computer software developed primarily for internal use. The proposed regulations define internal use software as “software developed for use in general and administrative functions that support the taxpayers trade or business.” Software is not

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