Small Businesses Selected for $5.4 Billion in Funding for Clean Energy Technology

Small businesses have been selected to receive nearly $5.4 billion from the Department of Energy via grants, contracts, loans, loan guarantees, and…

Senators Drafting ‘Clean Energy’ Package as Part of Forthcoming Jobs Creation Bill

Legislation that includes the extension of a popular renewable energy manufacturing tax credit and an energy efficiency rebate program for homes and businesses is being…

Senators Drafting ‘Clean Energy’ Package as Part of Forthcoming Jobs Creation Bill

Legislation that includes the extension of a popular renewable energy manufacturing tax credit and an energy efficiency rebate…

Seventh Circuit Overturns Tax Court Ruling on Exempt Interest Expenses of Qualified Subchapter S Subsidiary Bank

The U.S. Court of Appeals for the Seventh Circuit March 17 found that shareholders in an S corporation—which is the sole shareholder of a tax code Section 1361(b)(3)(B) qualified…

Corporate Equity Reduction Transaction Rules Analysis Urged Before Filing of Net Operating Loss Carryback Claims

While corporate taxpayers often overlook the corporate equity reduction transaction (CERT) rules before carrying back losses, they should…

ANALYSIS: Who Needs ‘Customers’? The Real Import (or Export) of IRS Announcement 2010-9 on ‘Uncertain Tax Positions’

If anything explodes the fiction that the U.S. Internal Revenue Service and the taxpayer—particularly the corporate taxpayer—are in a constructive partnership…

House Ways and Means Panel OKs Small Business Tax Bill; Treasury Concerned over Language Impacting Tax Treaties

The House Ways and Means Committee March 17 approved a $17 billion small business tax bill (H.R. 4849) but changes might be forthcoming after…

Senate Clears $13 Billion in Tax Incentives for Job Creation for President’s Signature

The Senate March 17 voted 68-29 to pass $13 billion in tax breaks for hiring new workers, an expansion of incentives for financing construction activity, and…