IRS Develop a Draft Form 7200 for the Advance of Payroll Tax Credits Due to COVID-19

On March 30, the IRS issued a draft of Form 7200 to identify a larger set of employment taxes against which the payroll tax credits could be applied.

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Extending the Tax Deadline to July 15 and How This May Affect Taxpayers

The filing deadline for federal tax returns has been extended from April 15 to July 15, 2020.

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Breaking News from Tax Point Advisors: CARES Act Signed into Law - Largest Stimulus Package in U.S. History

President Trump has signed into law the historic $2 trillion relief bill known as the Coronavirus Aid, Relief and Economic Security (CARES) Act.

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Illinois R&D Tax Credit Incentives for Growth and Money Saving Opportunities

Illinois is one of many states finally taking note of the R&D tax credit and how they are extremely beneficial for the economy and business growth throughout the state.

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Utilizing R&D Tax Credits, Indiana is focused on the innovation of tomorrow.

Companies performing research and development (R&D) activities in the state of Indiana may be eligible to receive state R&D tax credits as well as Federal tax credits with certain qualifications.

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How R&D Tax Credits are Helping the Medical Industry Find Solutions to the Coronavirus

R&D efforts are crucial to improving the lives of those suffering from a wide range of diseases including this new Coronavirus currently in the media. Innovative companies investing in medical research should take advantage of R&D tax credits to increase their chances of success.

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The R&D League of San Antonio

The R&D League will work together to provide scientific tools to San Antonio and investigate new ideas to help city staff make data-driven decisions.

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The MORE Act Can Drastically Change the United States Cannabis Industry

The MORE Act addresses many of the issues deriving from marijuana prohibition, but it does not offer remedies for every issue. Instead, it takes a somewhat hands-off approach, leaving most regulatory questions up to the individual states.

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Illinois Recreational Marijuana Use Laws and R&D Tax Credits for the Cannabis Industry

Tax Point Advisors provides R&D tax credit services and other specialty tax services to businesses in the cannabis industry and can help you navigate any issues and opportunities arising from this new Illinois legalization for 2020.

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Energy Tax Provisions Section 179D and Section 45L Extended Through the End of 2020

Does your business invest in energy-efficient building systems? If you are not currently benefitting from the section 179D or section 45L tax deductions, you could be losing out on thousands of dollars of tax savings. The good news is that these deductions were extended by Congress through December 31, 2020 and this extension also made these tax incentives retroactive back to the year 2016.

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Latest from the blog

Can Your Business Benefit from Arizona’s R&D Tax Credit Program?

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Tax Credits Available for Construction and Engineering Firms

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U.S. Rep. Walorski Introduces Bill to Double R&D Tax Credit

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