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Tax Court disallows R&D credit for insufficient evidence

Tax Court disallows R&D credit for insufficient evidence

The US Tax Court disallowed R&D credit claims because the taxpayer did not produce evidence to support requirements under section 41.

  • Tom Windram, John Deininger, Jared Boucher
  • |
  • April 22, 2019
Proposed regulations address ESBTs with foreign beneficiaries

Proposed regulations address ESBTs with foreign beneficiaries

The proposed regulations would impact S corporations owned by ESBTs that have non-resident alien beneficiaries.

  • Ed Decker, T. Christopher D’Avico
  • |
  • April 19, 2019
Colorado adopts the Revised Uniform Unclaimed Property Act

Colorado adopts the Revised Uniform Unclaimed Property Act

Colorado adopts RUUPA with minor variations; shortens dormancy for many property types, and eliminates the standard deduction.

  • Catherine Del Re, Yudit  Freda, Millie Philippus
  • |
  • April 19, 2019
U.S. Supreme Court hears arguments in Kaestner trust tax nexus case

U.S. Supreme Court hears arguments in Kaestner trust tax nexus case

Justices express concern over North Carolina’s tax on the undistributed trust income earned for the benefit of a resident.

  • Carol Warley, Brian Kirkell, Mo Bell-Jacobs
  • |
  • April 19, 2019
New Qualified Opportunity Zone regulations offer additional guidance

New Qualified Opportunity Zone regulations offer additional guidance

The new Qualified Opportunity Zone regulations answer many questions that favor taxpayers, though some questions remain.

  • Tom Windram, Ben Wasmuth, Jared Boucher
  • |
  • April 18, 2019
IRS provides safe harbor for valuing pro sports team rights

IRS provides safe harbor for valuing pro sports team rights

Rev. Proc. 2019-18 lets professional sports teams treat certain personnel contracts and draft picks as having a zero value when traded.

  • Tracy Watkins, John Charin
  • |
  • April 16, 2019
New York state enacts 2019-2020 fiscal year budget

New York state enacts 2019-2020 fiscal year budget

Budget bill address GILTI, qualified manufacturers, sales tax nexus, personal income tax rate extensions and property tax rate caps.

  • Catherine Del Re, Harlan Kwiatek, John Fielding
  • |
  • April 16, 2019
New tax rates increase value of reduced R&D credit election

New tax rates increase value of reduced R&D credit election

The reduced corporate tax rate enables a pass through entity to increase net R&D credit benefit by making a section 280C(c)(3) election.

  • John Deininger, Tom Windram
  • |
  • April 12, 2019

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