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News / January 20, 2023

IRS added request for R&D Supporting Details to Form 6765

Last week the #IRS issued draft instructions for Form 6765, Credit for Increasing Research Activities. The upcoming changes will require taxpayers to now include supporting details for current year #taxes that were originally required only for amended #taxreturns claiming the R&D #taxcredit starting January 10, 2022 per FSA20214101F. The draft instructions once finalized will require the following five items of information to be … Continue reading IRS added request for R&D Supporting Details to Form 6765

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News / January 19, 2023

179D Update

The #IRS clarified guidelines for the recent amendments made to Section #179D under the 2020 Relief Act and the Inflation Reduction Act of 2022. Section 179D allows #commercialbuilding owners, as well as #architects / #engineers that design governmental buildings to receive a tax deduction for the cost of #energyefficient upgrades. The deduction is designed to encourage businesses to invest in energy-efficient technology for the HVAC system, lighting, … Continue reading 179D Update

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News / December 13, 2022

IRS issues guidance for method change to capitalize R&D expenses

IRS issues advance release requiring method change due to looming changes on the horizon for R&D expenses. Taxpayers have been hoping Congress will delay or revise the new Section 174 requirements to begin capitalizing and amortizing all research or experimental (R&E) expenditures starting with their 2022 tax return. Assuming Congress is unable to accomplish this task … Continue reading IRS issues guidance for method change to capitalize R&D expenses

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News / January 31, 2022

IRS provides updated list of automatic change accounting methods

The IRS has released a new procedure that updates the list of automatic accounting methods changes that may be made by filing a form 3115 with your next timely tax return.  Rev Proc 2022-14 lists 166 different accounting methods eligible to be changed using the automatic change procedures. Each accounting method contains a description of … Continue reading IRS provides updated list of automatic change accounting methods

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Cost Segregation

If you are acquiring, expanding or building a facility Pinnacle’s Cost Segregation team can help you minimize your tax bill and increase your cash flow.

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Sales Tax

Whether you are looking for compliance assistance or refund opportunities, Pinnacle will provide a clear vision and coordinated plan to minimize your state and local tax cost and liabilities.

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Research Credit

Learn how your company’s activities to improve your design, products or process can lead to significant R&D tax credits.

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