In a world increasingly driven by automation, it’s tempting to turn to Artificial Intelligence (AI) powered solutions for complex tasks, even something as nuanced as claiming R&D tax credits. While AI can be a powerful tool, when it comes to maximizing your R&D tax credit claim, human expertise of a trusted advisor is not just … Read More
When a property is acquired in a Section 1031 like-kind exchange, tax preparers should consider several facts before deciding how to best depreciate the carryover basis from a relinquished property. When a cost segregation study is also considered on the newly acquired property, additional analysis is recommended before finalizing the 1031 tax basis calculations. To … Read More
Follow KBKG on Social Media Linkedin Facebook X-twitter Youtube By Brandon Val Verde | Director – Green Building Tax Incentives Minnesota is the first state to extend prevailing wage requirements to affordable housing developments utilizing Low-Income Housing Tax Credits (LIHTC). Under this new law, multifamily housing projects with more than 10 units that receive LIHTC … Read More
Follow KBKG on Social Media Linkedin Facebook X-twitter Youtube By Gian Pazzia | Chairman & Chief Strategy Officer According to the U.S. Senate Committee on Finance website posted on April 15, 2025, the IRS has confirmed that so-called “tribal tax credits” or “Native American Income Tax Credits” being sold by several promoters are fraudulent. Senators … Read More
Follow KBKG on Social Media Linkedin Facebook X-twitter Youtube By Jonathan Tucker | Principal, Research & Development Tax Credits On April 10, 2025, the U.S. House of Representatives approved the final version of the Fiscal Year (FY) 2025 budget resolution (H. Con. Res. 14) by a razor-thin margin of 216 to 214, which will incorporate amendments … Read More
The Internal Revenue Service (IRS) recently updated its Large Business & International (LB&I) Process Unit guidance concerning the 179D Tax Deduction. Following the introduction of Form 7205, the IRS continues to sharpen its focus on 179D, and choosing the right provider matters more than ever. The latest LB&I guidance provides critical insights into how claims … Read More
By Jonathan Tucker | Principal, Research & Development Tax Credits On April 2, 2025, Senate Republican leaders released a budget resolution that, once voted on, would begin the reconciliation process for tax reform. This is a similar framework to what the House passed in February. This Senate framework aims to keep tax cuts from the 2017 … Read More
By Alex Martin | Principal, Transfer Pricing President Trump signed an executive order on April 2, 2025, implementing a new “Reciprocal Tariffs” policy, aimed at what the administration describes as unfair trade practices. See tariff rates for select trading partners below. Tariff Rates for Selected Trading Partners China: 54% (20% current tariff rate + 34% … Read More
By Ian Williams | Principal, Employee Retention Credit The IRS has just released updated ERC FAQs on March 20, 2025, clarifying that protective claims for amended tax returns are no longer necessary. This update replaces KBKG’s earlier guidance recommending those claims as a precaution. The original publication can be viewed here. Scenarios and Solutions The … Read More
By Jonathan Tucker | Principal, Research & Development Tax Credits There are developments within the Republican Party, as 21 House Republicans have urged President Trump and House Speaker Mike Johnson (R-Louisiana) not to repeal specific green tax incentives established under the Inflation Reduction Act (IRA) of 2022, enacted during President Biden’s administration. These lawmakers emphasize … Read More