In an effort to alleviate taxpayer burdens and further streamline tax administration, alliantNational (alliantgroup’s Washington D.C.-based national office) offered the IRS and the Department of Treasury several recommendations in regards to the federal R&D Tax Credit and section 831(b) captive insurance companies.

In a letter from Steven Miller, the former IRS Acting Commissioner and alliantgroup’s National Director of Tax, alliantNational offered their recommendations for future priority guidance based on the concerns of partner CPA firms and U.S. business owners. Focusing on the need for additional clarity on the PATH Act’s pro-taxpayer modifications to the R&D Tax Credit, Miller specifically highlighted the need for a more definitive definition of gross receipts with respect to the legislation’s startup provision.

In addition to guidance on the research credit, Miller also offered the firm’s suggestions regarding PATH Act changes in the area of captive insurance, highlighting the need for greater clarity and consistency among the new measures.

Read the letter in full:

Final Priority Guidance Recommendations 05-17

 

Contact us today for more information on the R&D Tax Credit and how these recent modifications and proposed changes could help your business.