Business Tax Quarterly Suggested Readings - Summer 2019

July 01, 2019

R&D Tax Credit-Related Content

Four-Part Test for R&D Tax Credit Eligibility

Manufacturers interested in the research-and development tax credit may still question eligibility. As a first measure, it’s critical to vet manufacturing-related activities through a four-part test.

State-Level Support for R&D Credit Grows

In the latest evidence, Illinois approved a measure to extend a state-level research-and-development tax credit. Meanwhile, New York has a similar credit, and in its case, permanent.

Fortune 500 Companies Save Big With R&D Tax Credit

In leveraging the tax credit, major corporations are netting major savings. This occurs when qualified research and development spending is subtracted from the total calculated tax.

Cryptocurrency-Related Content

Bitcoin Rallies Hard on Heels of Facebook Cryptocurrency News

Following the social media giant’s libra announcement, the world’s first cryptocurrency hit a 15-month high. Unlike the media hype that surrounded its 2017 performance, however, bitcoin’s strong gains this year may also be fueled by greater demand from professional investors.

IRS Deploys Team for Cryptocurrency Tax Enforcement

Even as new tax guidance on cryptocurrency transactions is pending, the IRS is stepping up enforcement. The agency is preparing notices to taxpayers identified through a document-matching program who may have omitted or underreported cryptocurrency income.

AT&T Customers Can Now Make Bitcoin Payments

Signaling the mainstreaming of crypto payments, one of the largest U.S. telecommunications providers has announced that customers can now pay bills with virtual currency. However, the payments could trigger unintended tax consequences, reports Bloomberg Tax.


Business Tax Quarterly - Summer 2019

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