FAQ: How does the suspension of the ACA medical device excise tax impact compliance?

The Affordable Care Act (ACA) imposed an excise tax on the sale of certain medical devices by the manufacturer or importer of the device. The tax is 2.3 percent. Under the ACA, the excise tax was effective for the sale of medical devices after December 31, 2012. The tax is now under a two year [...]

FAQ: How does the suspension of the ACA medical device excise tax impact compliance? 2017-03-01T00:30:40+00:00

How do I: Get an extension of time to change a method of accounting?

A taxpayer changing its method of accounting must either request advance IRS consent or apply for automatic IRS consent on Form 3115, Application for Change in Accounting Method, to make the change. Automatic consent is more favorable because the taxpayer can request the change on its return filed after the year it makes the change. [...]

How do I: Get an extension of time to change a method of accounting? 2017-03-01T00:30:40+00:00

How do I…calculate the EITC for members of the U.S. military?

How do I…calculate the EITC for members of the U.S. military? To claim the EITC, a taxpayer must satisfy two tests with respect to earned income. First, the taxpayer must have some earned income. Additionally, the taxpayer’s earned income must fall within certain ranges as the credit is subject to income phaseout. As the taxpayer's [...]

How do I…calculate the EITC for members of the U.S. military? 2017-03-01T00:30:40+00:00

How do I? Determine a residential tax credit for solar panels

How do I? Determine a residential tax credit for solar panels Individual taxpayers may claim a nonrefundable personal tax credit for qualified residential alternative energy expenditures. The residential alternative energy credit generally is equal to 30 percent of the cost of eligible solar water heaters, solar electricity equipment, fuel cell plants, small wind energy property, [...]

How do I? Determine a residential tax credit for solar panels 2017-03-01T00:30:43+00:00