Our Thoughts On Archive

IRS releases guidance to taxpayers for changing accounting methods to conform to financial accounting revenue recognition standards

On May 10, 2018, the IRS released Revenue Procedure 2018-29 (hereinafter Rev. Proc. 2018-29) to provide new, automatic procedures for taxpayers changing

Congressional Research Service Releases Tax Policy Options on College Endowments

Educational institution endowments have come under attack from all sides lately. Whether it is the new excise tax on net investment income, a Congressman

Tariffs Pose Challenge to Construction Firms

Earlier this year, there were New Tariffs Proposed on Steel and Aluminum by President Trump. The tariffs amount to 25% on steel and 10% on aluminum imports.

IRS Announces 2017 Marginal Well Credit for Marginally Producing Natural Gas Properties

Natural gas well owners holding an operating interest in a qualified marginal well during 2017 are eligible to claim a $0.51 credit per qualified MCF,

Pennsylvania Provides Clarification on Application of Nextel Decision

The Pennsylvania Department of Revenue recently released Corporation Tax Bulletin 2018-02 to clarify its position on the application of the decision issued

New Revenue Procedure for Contributors Making Donation to Tax-Exempt Organizations

New Revenue Procedure 2018-32 modifies, consolidates and supersedes Rev. Proc. 81-6, Rev Proc. 81-7, Rev. Proc. 89-23 and Rev. Proc. 2011-33 in providing