Tax Planning
NFP Taxpayers Eligible for IRS Fast Track Settlement
IRS Announcement 2012-34, 2012-36 IRB 334 , advises Tax Exempt and Government Entity (TE/GE) customers with audit issues that they may be able to use Fast Track Settlement (FTS) to expedite case resolution. The TE/GE FTS will enable eligible TE/GE taxpayers who currently have unresolved issues under examination to work with TE/GE and the Office of Appeals to resolve outstanding disputed issues while the case is still in TE/GE jurisdiction. Read the announcement to learn more about case eligibility, application and settlement procedures. This program took effect September 4, 2012. The announcement modifies and supersedes Announcement 2008–105 , which described the pilot FTS program.
Fast Track Settlement for TE/GE Taxpayers
IRS Announcement 2012-34, 2012-36 IRB 334 , advises Tax Exempt and Government Entity (TE/GE) customers with audit issues that they may be able to use Fast Track Settlement (FTS) to expedite case resolution. The TE/GE FTS will enable eligible TE/GE taxpayers who currently have unresolved issues under examination to work with TE/GE and the Office of Appeals to resolve outstanding disputed issues while the case is still in TE/GE jurisdiction. Read the announcement to learn more about case eligibility, application and settlement procedures. This program took effect September 4, 2012. The announcement modifies and supersedes Announcement 2008–105 , which described the pilot FTS program.
New IRS Regulations on Repairs & Maintenance Expenses Impact Most Businesses
New temporary IRS regulations and transition guidance that will affect virtually all business taxpayers took effect January 1, 2012. While these new regulations, which relate to repairs and maintenance expenses, have been anticipated for some time, one recent development signals a seismic shift in the IRS position on how such expenses are to be handled for tax purposes. On March 15, 2012, IRS issued a Directive for field examinations on the repair vs. capitalization issue that essentially suspended current examinations. For examinations of tax years beginning before January 1, 2012, examiners are instructed to discontinue current exam activity and not. Read More.
New IRS Regulations Governing Repairs & Maintenance Will Impact Most Businesses
New temporary IRS regulations and transition guidance that will affect virtually all business taxpayers took effect January 1, 2012. While these new regulations, which relate to repairs and maintenance expenses, have been anticipated for some time, one recent development signals a seismic shift in the IRS position on how such expenses are to be handled for tax purposes. On March 15, 2012, IRS issued a Directive for field examinations on the repair vs. capitalization issue that essentially suspended current examinations. For examinations of tax years beginning before January 1, 2012, examiners are instructed to discontinue current exam activity and not. Read More.
Atlanta Business RadioX Podcast Features CB&H’s Matthew May
At the recent Georgia Technology Summit , the annual flagship conference for the Technology Association of Georgia (TAG), CB&H’s Matthew May (pictured center) appeared as a guest on Atlanta Business RadioX . Matthew joined hosts Lee Kantor and Stone Payton to discuss the opportunities and dangers facing early-stage, entrepreneurial technology firms. It is important for young companies, especially those just in receipt of a financing round, to examine their deductions and credits via their tax returns. For many, this can free cash assets at crucial growth phases. Click here to listen to or download the podcast.
The Impact of NDAA Restrictions on DoD Pursuit of LEED Gold or Platinum Certifications
The National Defense Authorization Act (“NDAA” or “the Act”) placed restrictions on FY 12 Department of Defense (“DoD”) appropriations, greatly increasing the difficulty the DoD will have in obtaining gold or platinum Leadership in Energy and Environmental Design (“LEED”) certifications. These restrictions pose a risk to contractors who assist DoD in “green” construction or renovation efforts. Depending on the funds used, such contracts could be at risk for modification or even termination. Executive Order 13423, signed by President Bush in 2007, set “goals in the areas of energy efficiency, acquisition, renewable energy, toxics reductions, recycling, renewable energy, sustainable buildings, electronics. Read More.
