Advising on the availability of tax credits
Discover how to make sense of the complicated issues regarding federal tax credits and to tax matters related to the energy, sustainability, and natural resources industries.
Advising on the availability of tax credits
Assisting in obtaining IRS rulings on technical issues
Advising on recapture risk and related tax issues
Issuing tax opinions
Providing due diligence services in connection with tax credit investment services
Modeling tax credit transactions to showcase the after-tax economic returns of credit deals
Enhancing the information gathering process to support the annual credit claims process
Advising on tax credit structures (including credit partnerships and leasing transactions)
Identifying, quantifying, and documenting R&D credits for both current and prior tax years and uncovering new credit opportunities
Preparing tax returns and schedules, performing compliance reviews, and providing IRS audit support
Reviewing documents (operating agreements, tax opinions, loan documents, and projections) and advising on tax-related issues
Assisting clients in understanding the legislative and regulatory environment and the potential impact of law changes
Help simplify how your current accounting practices and operations affect your tax position in order to take advantage of tax-efficient accounting methods and credits.
KPMG's team of tax, accounting, engineering and technology professionals who specialize in helping companies potentially benefit from R&D tax incentives.
Encourages investment in economically underserved areas across the United States.
Equal to 20% of qualified rehabilitation expenditures incurred by owners of historic buildings.
As part of the new tax law in the United States, a taxpayer may elect to defer capital gain from the sale or exchange of property by investing in a qualified opportunity zone fund until the earlier of (1) the disposition of the investment or (2) December 31, 2026.
A portion of the capital gain from the sale or exchange may be excluded permanently if the investment is held for at least five years. Also, gain from the sale of the investment may be permanently excluded if the investment is held for at least 10 years.
Read a February 2018 report prepared by KPMG LLP that provides an overview of the new rules for qualified opportunity zone investments: What’s News in Tax: Opportunity Knocks under Tax Reform.
The New Markets Tax Credit (NMTC) is a federal tax credit program designed to encourage investment in economically underserved areas across the United States. Since it's inception, the government has awarded 50.5 billion in tax credit authority. Recently, Congress passed legislation to extend the program and authorized 3.5 billion annually in NMTC allocation authority throughout 2019.
In this Webcast replay, senior-level professionals from KPMG's Washington National Tax group and Research Tax Credit Services group provide an overview of the research tax credit, industry trends, and leading practices that companies should implement.
(Original airdate: March 3 2017)
Representatives from the Government Accounting Office (“GAO”) recently testified before the Senate Finance Committee on ways to improve the low-income housing tax credit (“LIHTC”), a federal tax credit for investors in low-income housing projects.
The new market tax credit (“NMTC”) program allows tax credits for investments designed to create economic growth in low-income urban and rural areas. This article highlights key findings in a recent report reviewing the program.
The section 41 tax credit for increasing research was recently made permanent! Along with the permanent reinstatement of the research credit, certain small businesses can get special tax benefits. This article introduces the permanent extension of the research credit and the ability to offset alternative minimum tax (“AMT”) and payroll taxes for eligible businesses.
The IRS seems to view the agricultural chemical security credit of section 45O with a more inclusive eye than taxpayers originally perceived. This article describes eligibility for the credit and explains why taxpayers should be looking at whether they might fit within the statute after all.
The Section 1603 Grant program has awarded cash grants to eligible taxpayers that placed specified energy property in service. This article describes the grant program, focuses on how receiving a grant affects a corporation’s earnings and profits, and evaluates three alternative approaches for increasing earnings and profits on the receipt of a Section 1603 Grant.
Taxpayers in the oil and gas industry can deduct intangible drilling and development costs (“IDC”). This article examines how the IDC rules might apply to offshore operations.
If taxpayers took steps to “begin construction” on renewable energy facilities prior to January 1, 2014, the facilities may be eligible for the production tax credit or investment tax credit. This article reviews recent guidance on what it means to begin construction, including the effect of transferring property and the modification of a safe harbor.
Taxpayers that rehabilitate certain buildings and historic structures may qualify for tax credits. While structuring these projects, developers and investors may create rehabilitation tax credit partnerships to capture and allocate the tax credits. This article provides a simplified background to rehabilitation tax credit partnerships and discusses recent developments in the area, including a revenue procedure that establishes a safe harbor for partnership allocations of rehabilitation tax credits.