Modified Treasury Regulations Allows More Taxpayers to Capture R&D Credits for Prior Years

Earlier this week, The US Department of the Treasury announced planned modifications to the Federal R&D Tax Credit (see TD 9666 here, press release from the office of Sen. Christopher Coons here) which will allow taxpayers to elect the Alternative Simplified Credit (“ASC”) method for calculating the R&D Credit on an amended tax return.  Previously, Read the full article…


Louisiana Biotech – TransGenRx – Awarded One of the Largest Tax Credits in History of Louisiana R&D Tax Credit Program

TransGenRx Inc. (tgrxinc.com), a biopharmaceutical manufacturing company based in Baton Rouge, LA, recently received one of the largest R&D Tax Credits in the history of the LA R&D Program. TRCG Advisors, LLC, a Tax Credits and Incentives Firm based in Baton Rouge, assisted the Company in identifying, capturing, and filing for the incentive. Prior to Read the full article…


Bipartisan Group of Senators Proposes “The Start Up Act 2.0”

Last week, a bipartisan group of four U.S. Senators – Sen. Marco Rubio (R-FL), Sen. Jerry Moran (R-KS), Sen. Mark Warner (D-VA), and Sen. Chris Coons (D-DE) – introduced a bill titled “The Start-up Act 2.0”.  The legislation is designed to address perceived difficulties facing early-stage “STEM” (Science, Technology, Engineering & Mathematics”) based companies.  The Read the full article…


Congress Investigating GSA ‘Kickbacks’ for 179D Authorization

A recent controversy has arisen regarding the GSA’s 179D authorization practices.  Congressman Charles Boustany (R-LA) of the House Ways & Means committee is investigating allegations of “kick-backs” related to the authorizations of 179D deductions.  Specifically, it has been alleged that GSA asked Architect-applicants seeking a transfer of 179D deductions for some form of rebate related Read the full article…


Proposed 2013 Federal Budget Calls for Additions, Changes, and Enhancements to Business Incentives

The Obama Administration has released its fiscal year 2013 budget (the full “greenbook” can be viewed here).  While the likelihood of these provisions becoming law in an election year may be questionable, we’d like to highlight a couple of the additions, changes and enhancements proposed to business tax incentives: Establishment of an “In-sourcing” Tax Credit for Read the full article…


Summary of 2011 IRS Enforcement Results

The Internal Revenue Service released the Agency’s Enforcement and Service Results for the 2011 fiscal year.  Since 2001, Revenue generated from Examination and Appeal Activity has more than doubled, and total enforcement activity yielded $55.2 billion in tax revenue. Since 2001, the Service has hired an additional 1,981 employees in key enforcement positions (revenue officers, Read the full article…


Louisiana – R&D Tax Credit Program Changes

On January 3rd, 2012, Louisiana Economic Development proceeded with its plan to implement rule changes to the administration of the state’s R&D Tax Credit Program. A public hearing was held during which TRCG Advisors was the only Tax Provider to attend and provide comments to the proposed rules.  Considering some of the administrative difficulties the Read the full article…