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What Is The Current Legislative Status Of The 179D Energy Tax Deduction For Building Envelope Efficiency In Congress?
User Photo Peter J. Scalise
Tax Professional Level: Master Tax Advisor

The I.R.C. Sec. 179D Energy Tax Deduction for Building Envelope Efficiency previously expired on December 31, 2013. However, most recently on March 26th, Senator Ed Markey and 28 other U.S....   Read More
What Are The Current Rules Governing Taxpayers Who Turned 70-1/2 During 2013 In Connection To Required Minimum Distributions For Individual...
User Photo Peter J. Scalise
Tax Professional Level: Master Tax Advisor

It should be duly noted that taxpayers who turned 70-1/2 during 2013, in most cases, must begin receiving Required Minimum Distributions (hereinafter "RMDs") from Individual Retirement Accounts (hereinafter "...   Read More
What Are The Probabilities Of The Research & Experimentation Tax Credit Being Renewed Retroactively To Cover January 1, 2014 To Present?...
User Photo Peter J. Scalise
Tax Professional Level: Master Tax Advisor

The probabilities are fairly high that the Federal-Level Research and Experimentation Tax Credit (hereinafter "RTC") will be retroactively renewed. It should be duly recalled that the 1st...   Read More
Were New York Liberty Zone Tax Incentives Included Within The White House Fiscal Year 2015 Budget Proposal?
User Photo Peter J. Scalise
Tax Professional Level: Master Tax Advisor

President Obama unveiled his $ 3.9 trillion dollar Fiscal Year 2015 Budget Proposal on March 4th that would provide tax credits for transportation infrastructure in or connecting to the New York Liberty Zone,...   Read More
Did President Obama's Fiscal Year 2015 Budget Proposal Modify The Application Of The UNICAP Rules For Select Taxpayers?
User Photo Peter J. Scalise
Tax Professional Level: Master Tax Advisor

President Obama unveiled his $ 3.9 trillion Fiscal Year 2015 Budget Proposal on March 4th that would exempt employers with average annual gross receipts of $ 10 million or less from the uniform capitalization ("...   Read More
Is The New Markets Tax Credit (NMTC) Program Still In Effect?
User Photo Peter J. Scalise
Tax Professional Level: Master Tax Advisor

No, currently the New Markets Tax Credit (hereinafter "NMTC") program expired on December 31, 2013. As a background, the NMTC program was established back in 2000 as part of the "Community Renewal...   Read More
Is It True That Congress Is Moving To Repeal The Tax Law Under I.R.C. § 1031 Governing Like-Kind Exchanges?
User Photo Peter J. Scalise
Tax Professional Level: Master Tax Advisor

Yes, recently on February 26, 2014, the House Ways & Means Committee Chairman Dave Camp released a Discussion Draft of his Comprehensive Tax Reform Proposal. The Discussion Draft does indeed propose a...   Read More
Is There A New Automatic Consent Provision For Changes Relating To Costs Associated With Foreclosures Or Similar Transactions?
User Photo Peter J. Scalise
Tax Professional Level: Master Tax Advisor

Yes, there is a new automatic consent provision in connection to changes relating to costs associated with foreclosures or similar transactions. Pursuant to I.R.C. § 263A(b)(2)(A), the uniform...   Read More
Did The IRS Recently Issue New Administrative Authority In Connection To The Tax Treatment Of Sales-Based Royalties And Sales-Based Vendor...
User Photo Peter J. Scalise
Tax Professional Level: Master Tax Advisor

Yes, The Department of Treasury recently issued on January 13, 2014 final treasury regulations that address the capitalization and allocation of royalties that are incurred upon the sale of property produced or...   Read More
Did The Department Of Treasury Recently Issue Proposed Or Temporary Treasury Regulations Concerning UBTI?
User Photo Peter J. Scalise
Tax Professional Level: Master Tax Advisor

The Department of Treasury recently issued proposed treasury regulations on February 6, 2014 that govern how certain organizations that provide employee benefits must calculate Unrelated Business Taxable Income (...   Read More

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