NAHB Request Prompts Extended COVID-19 Relief From IRS

Pro Builder

NAHB Request Prompts Extended COVID-19 Relief From IRS. A recent announcement by the IRS offers extended relief from some residential housing requirements. The relief included in IRS Notice 2022-05 applies to: 10% Test for Carryover Allocations.

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IRS Extends 2019 Income Tax Payment Deadline—States Soon to Follow

Best Practices Construction Law

No special filing with the IRS is required for this payment extension. The payment extension announced for the IRS is not a tax return filing date extension. With the IRS announcement, states are expected to follow suit, and to announce their own extended payments dates.

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The Inflation Reduction Act Of 2022: Reactions And Predictions

Business Facilities

Economic Development Energy (Renewable/Alternative/Green) Featured Site Selection Taxes & Incentives The Editor's Blog Climate change Inflation Reduction Act of 2022 IRS Legislation Renewable Energy taxes

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Caterpillar Faces IRS Challenge

Construction Equipment

After last month’s Senate investigative hearing on Caterpillar’s overseas tax practices, the Internal Revenue Service has challenged the company’s tax returns from 2007, 2008 and 2009, according to a Bloomberg report

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IRS Hikes Proposed Caterpillar Tax Penalty To $2.3 Billion

Construction Equipment

Securities and Exchange Commission on Thursday and said that the IRS completed its examination of Cat’s U.S. Caterpillar posted its annual 10-K report filed with the U.S. income tax returns for 2010 to 2012 and has increased its proposed tax penalties to approximately $2.3 billion for the 2007 through 2012 audits.

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The TCJA Legislation Driving IRS Code Reform in 2019

Construction Business Owner

The Tax Cuts and Jobs Act of 2017 and how it will cause tax reform in 2019

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Don’t Wait for an IRS Letter

Construction Business Owner

Do your business practices expose your construction company to potential IRS penalties? The implications of how you report revenue or account for your labor force can vary from year to year and change when certain financial milestones are achieved. Does your CPA keep you informed of the benefits available to your business? The following are some common tax reporting issues that can impact construction contractors

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Tax Filing Emergency! Final IRS regulations on tangible property are game changers

Contractor Magazine

The IRS has changed the rules on what you can expense and what must be depreciated. As we prepare for what many in the industry are calling “game changing” rules in the manufacturing of water heaters due to the latest updates to the National Appliance Energy Conservation Act (NAECA), there are similar game changing IRS regulations that have been finalized in the tax code on tangible property that will impact almost all businesses. BY MICHAEL BOHINC, CPA.

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IRS To Audit Destiny USA's Green Bonds : Green Building Law Update

Green Building Law Update

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The Destiny USA Debacle: Why the IRS is the Key Player : Green.

Green Building Law Update

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The Destiny USA Debacle: May It Please the IRS : Green Building.

Green Building Law Update

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Life insurance is still a way to deny the IRS

Contractor Magazine

My original goal for this article was to begin an analysis of the proposed overhaul of the Internal Revenue Code and how to beat the new tax monster at his own game. No luck

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How to beat IRS double-tax monster. legally

Contractor Magazine

Are you lucky enough to be rich (my definition of rich: you are irrevocably in the highest income tax bracket and highest estate tax bracket)? read more. Blackman Taxes Silver

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How to keep retirement plan dollars away from IRS

Contractor Magazine

For most Americans, retirement planning revolves around qualified plans (for example, IRA, 401(k), a profit-sharing plan and the like). read more. Blackman Taxes Registered User

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You too can enrich your family, instead of the IRS

Contractor Magazine

In a way the strategies are secrets, because few professionals know they exist, and if they do, have no idea how to implement them. read more. Blackman Registered User

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Scam Artists Are Calling Contractors Claiming To Be From The IRS

Contractor Bookkeeping

Scammers are calling all kinds of people and business owners claiming to be from the IRS. Contractors Are Prime Targets For IRS Scams. Here Is How It Works: Step #01 - They rig a caller ID to make it appear as if the IRS is calling your contracting company. If it’s an email, forward it to the IRS at phishing@irs.gov. If you owe money to the IRS or if you think you owe money to the IRS, call the IRS at 800-829-1040 or go to irs.gov.

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Understanding Opportunity Zone Guidelines

Business Facilities

Economic Development Feature Story Featured Magazine Highlights Taxes & Incentives BF-September/October-2019 capital gains Capital Investment Chamberlain Hrdlicka Corporate Real Estate (CRE) Internal Revenue Service IRS like-kind exchanges QOZ Qualified Opportunity Zones Site Selection tax benefits Tax Cuts and Jobs Act Tax Incentives

How to create tax-free wealth while beating up the IRS — legally

Contractor Magazine

This article is about a new and unique concept called the Comprehensive Tax Plan (CTP for short.). read more. Blackman Taxes Registered User

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Don’t let an estate planner’s software enrich the IRS

Contractor Magazine

Computer programs suggest various tax strategies to reduce (but not eliminate) a large estate tax liability

PPG earns DOE funding to develop dynamically responsive IR window coating Technology aims to maintain daylighting, control solar heat gain

BD+C

Department of Energy (DOE) to develop a dynamically responsive infrared (IR) window coating that will block heat in the summer to reduce air-conditioning costs and transmit solar heat in the winter to reduce heating costs. PPG Industries’ flat glass business has received $312,000 from the U.S.

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IRS Aid to Help Victims of Chinese Drywall

Construction Law Monitor

Just last week the Internal Revenue Service (IRS) announced a plan to help homeowners who have corrosive Chinese Drywall in their home with tax breaks on items that have been destroyed as a result of the Drywall. IRS website gives a good break down on the relief effort affecting repairs for drywall losses from drywall installed between 2001-2009.

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Weekly Product Gallery: Greenlee, Uponor, Goulds, Little Giant, Viega and Seek Thermal

Contractor Magazine

Cordless Tools IR Cameras Media Galleries Plumbing RadiantThis week the gallery includes a cordless inline pressing tool, a thermostat designed for radiant heating applications, an advanced pump controller, a condensate removal pump, new tees for use with a popular pressing system and more. read more.

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Industrial Revolution 4.0: Its Impact on the Construction Sector

The Constructor

The concept of the Industrial Revolution (IR) 4.0 embodies digitization, automation, and an increased use of Information and Communications. Digital tools

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Appeals Court Upholds IRS Rejection of Consultant Bid For $1.7M R&D Tax Credit

ENR Construction

Ruling affirms lower court decision that now may clarify who has risk, researcher or client, in cost plus contracts. Business Management

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Epiroc Launches ‘Try-and-Buy’ Drill Rig Program

Construction Equipment

The drill is an improved version of the IR ECM 580 construction rig that tracks back from Epiroc to Atlas Copco and Ingersoll Epiroc has introduced the Try-and-Buy program for the FlexiROC T30 R construction edition tophammer surface drill rig.

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Construction Company Employee Compensation And A Note On Taxes

Randal DeHart

When paying employees, laws and the IRS have made the payroll function a time-consuming nightmare for the small business owner.

New Legislation Could Change How Contractors File and Pay Taxes

Construction Law Monitor

The actual profits it receives may be more or less than this estimate, whereupon the contractor has to alert the IRS of the difference and either get a credit or pay the difference. 1993 IRS New Orleans City Business TaxLast week, The American Job Builders Tax Reform Act of 2011 was introduced in the house as a bi-partisan bill (sponsored by Reps. Wally Herger (R-Calif.), David McKinley (R-W.Va.) and Shelley Berkley (D-Nev.)) to update how contractors are taxed.

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The 2 Types of Welding Helmets You Need To Consider

Construction Marketing

Automatic UV or IR Darkening Filters. These polarization filters automatically darken depending on the penetrative power of the UV and IR rays emitted; ultimately, providing optimal eye protection. Glass lens coated with IR and UV protection.

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There’s Still Time To Invest In Qualified Opportunity Zones

Business Facilities

The IRS has extended a critical deadline for investments in Qualified Opportunity Zones until the end of the year, hoping to entice investors who have largely sat on their money during the global pandemic.

Tax auditor is your friend

Contractor Magazine

“Surprise – I’m from the IRS and I’m taking you to jail,” he says as handcuffs jingle from his belt. read more. Fey Registered User

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LiveXchange Webinar: Panel Discussion – Opportunity Zones 2.0

Business Facilities

Learn how Opportunity Zones are becoming prime investment opportunities for capital gains and how new IRS guidelines will impact on your plans for a QOZ near you.

What keeps this tax planner up at night?

Contractor Magazine

Actually, mistakes that professional advisors make, causing readers of this column to lose unnecessary dollars to the IRS. The answer: Mistakes. read more. Blackman Taxes

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Collaborative Workshops a Bargain!

Collaborative Construction

I feel a lot better about the prices Collaborative Construction charges for services after seeing what the IRS pays for speakers at its conventions! The IRS hired 15 speakers to present at the conference in Anaheim, Calif., Further, I doubt very much if my message of efficiency and collaborative work processes would resonate with the IRS. We are cheaper than the tools hired by the tools at the IRS to speak at their conferences!

How to transfer your wealth to your family tax-free

Contractor Magazine

Like it or not, you have a partner: the IRS. If you are typical, you accumulated your wealth little by little. It should belong to you and your family. Right? But it doesn’t. read more. Blackman Silver

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Destiny USA Reaches the Green Bonds Finish Line

Green Building Law Update

As reported by Rick Moriarty, the Internal Revenue Service (IRS) notified the Syracuse Industrial Development Agency on March 17 (2011) that it would be auditing the Green Bonds issued by the Agency to the Destiny USA developer. If the IRS were to determine that non-compliance occurred, then the Destiny USA project could have lost hundreds of millions of dollars in estimated tax breaks. The IRS ruling fascinates me.

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179D Tax Deduction Allocated from Government Buildings

Green Building Law Update

The IRS has issued guidance, that a designer is a person that creates the technical specifications for installation of energy efficient commercial building property (or partially qualifying commercial building property for which a deduction is allowed under § 179D).

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Can I get an audit?

Collaborative Construction

Speak out against the federal government and they will send the IRS, OSHA, BATF and the local arm of the EPA. Just Wow. This is chilling. Welcome to the Collaborative Revolution! James L. Salmon, Esq. Collaborative Construction 300 Pike Street Cincinnati, Ohio 45202 Summary of Services and James L. Salmon''s CV Office 513-721-5672 Fax 513-562-4388 Cell 512-630-4446 JamesLSalmon@gmailcom Collaborative Construction Website No Silos Website

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Weekly Product Gallery: Shure, Ridgid, Toto, Neutra-Safe, Thermal Solutions and Matco-Norca

Contractor Magazine

This week the product gallery includes a steel technician cart, an IR thermometer, a high-efficiency flushometer, an automatic system feeder for hydronic systems and more. read more. Media Galleries Toilets Hydronics Plumbing Tools

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5 Questions to Get the Right Tax Representation

Construction Business Owner

What you need to know before hiring a firm & facing the IRS. My bookkeeping and tax resolution firm helps people who have problems with the Internal Revenue Service (IRS) to get fair representation and the IRS off their backs. 5 Questions to Get the Right Tax Representation.

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How to Get Large Group Health Insurance Plans for Contractor Business Employees

Construction Marketing

According to the Internal Revenue Service (IRS), these workers are not deemed true employees. Both the IRS and a number of states have distinct rules that categorize workers as employees or independent contractors.