Tax Talk Around The Web
- Business Spectator: Stalled R&D legislation stunts innovation (Australia). As we discussed previously, temporary legislation makes for lousy tax policy, a problem that Australia seems to be experiencing right now.
- Forbes – Business in the Beltway: Taxes? Hold ‘Em!. It seems that the pending deal on individual taxes will include a one-year extension of the R&D tax credit here in the U.S.
- BusinessWeek: German FinMin Defends Need for Euro. Not technically about tax, but a breakup of the Euro could have significant, if temporary, implications for U.S. taxpayers. Then again, Europe might be headed in the opposite direction, towards closer fiscal coordination. The Economist also chimes in.
Tags: currency, Legislation, tax credits
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December 7, 2010 at 10:48 am
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Fully agree that the R&D tax credit should be made permanent. In addition, the Alternative Simplified Credit should be applicable for claiming on previously filed tax returns. Most importantly, the credit should be allowed as an offset to AMT for all years, not just for 2010 and not just for companies with revenues $50m and under. We work with companies across the country, and many who qualify for R&D credita – and really need the benefit of this credit – can’t use the credit due to the inability of the credit to reduce Alternative Minimum Tax in prior years.
Jeffrey Feingold
Managing Partner
Tax Point Advisors
http://www.taxpointadvisors.com
800-260-4138
jeffreyfeingold@taxpointadvisors.com