Sometimes it's hard to tell the difference between the two. Is what I'm experiencing truly the problem or is it a symptom of an underlying problem?
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Qualified personal service corporations cannot use these graduated tax rates...
The Research Credit, the Research and Experimentation (R&E) Credit, the Research and Development (R&D) Credit, and Credit for Increasing Research Activities are all different terms for the same Federal Tax Credit. This Federal Credit is filed on Form 6765 - Credit for Increasing Research Activities.
We typically don't comment on new legislation until it's passed, but we've been receiving many questions on the status of the American Jobs and Closing Tax Loopholes Act of 2010 which was passed by the House of Representatives of May 28.
In a new publication on its website, "Publication 4837 - Achieving Quality Examinations through Effective Planning, Execution and Resolution," IRS has announced the implementation of the Quality Examination Process (QEP) - "a systematic approach for engaging and involving Large and Mid-Size Business (LMSB) taxpayers in the tax examination process, from the earliest planning stages through resolution of all issues."
The Federal Government provides tax benefits to companies developing new products or methods to produce products. One such benefit is a tax credit available to companies who are spending money on qualifying research expenses related to such innovation.
On January 26, 2010, the Internal Revenue Service ("IRS") released Announcement 2010-09. The announcement explains the content of a proposed schedule that certain business taxpayers will be required to file with their annual tax returns.
The IRS recently released updated federal mileage rates that will apply to mileage incurred on or after January 1, 2010: