The Benefits of IC-DISC and Producer’s Loans
IC-DISC, which stands for Interest-Charge Domestic International Sales Corporation is an export tax benefit for small and medium U.S. manufacturers. Due to the amount of money the incentive can [...]
U.S. Companies Spending More on R&D Than Ever Before
The U.S. government may be cutting back on research money, but U.S. companies are sinking spending money into research and development at the quickest rate in history. According to an article in [...]
The Trans-Pacific Partnership, I.P. and R&D
In a recent interview with Marketplace host Kai Ryssdal, Obama stated that China is open to the idea of joining the Trans-Pacific Partnership (TPP), which would make the TPP an even bigger deal [...]
“China to Surpass U.S. As World’s Top Investor in R&D”
The Chinese government and Chinese corporations are pushing to make China the world leader in innovation. Innovation and technology are gaining a lot of attention across Chinese industries. Last [...]
House Passes COMPETES Bill
On the same day H.R. 880, the American Research and Competitiveness Act of 2015 was passed by the House, so was H.R. 1806, the America Competes Reauthorization Act, in a 217-205 vote. The America [...]
Chemical Manufacturing Group Asks Senate for Permanent R&D Credit
A specialty chemicals group publicly applauded the House last week for passing the American Research and Competitiveness Act, and are now calling on the Senate to take the same action. The [...]
Spotlight on the R&D Tax Credit
After taking a long, hard look at America’s Research and Development Tax Credit, Congress realized that it was due for a much-needed makeover, and 2015 is the year to do it. In February of 2015, [...]
Congressman Introduces Legislation to Modernize and Make Permanent the R&D Tax Credit
U.S. Congressman Kevin Brady recently wrote a piece for The Woodlands Villager as a guest columnist titled, “Keeping America Safe, Strong and Innovative.” Brady begins his article [...]
Norwest Corporation v. Commissioner, 110 T.C. 454 (1998)
Background Norwest Corporation v. Commissioner, 110 T.C. 454 Between 1986 and 1991, Norwest Corporation and its subsidiaries developed and modified software for the internal management and [...]
Fortunato J. Mendes v. Commissioner of Internal Revenue 121 T.C. 308 (t.C. 2003)
Background Mendes v. Commissioner T.C. No. 16032-95. This Tax Court case concerns tax deficiencies and additions to tax for the 1988 taxable year. The IRS denies that Fortunato J. Mendes (Mendes) [...]
