A recently issued IRS revenue procedure has resulted in uncertainty for some taxpayers seeking to change methods of accounting, according to the AICPA.  In a letter dated June 8, the organization made recommendations to the IRS regarding accounting method changes for erroneously characterized research and experimentation (R&E) expenditures.  Taxpayers sometimes wrongly attribute an expense to [...]

As a pillar of the U.S. economy, the manufacturing industry is an important driver of economic growth, innovation, and the creation of high-paying jobs.  In recognition of the vital role that manufacturing companies play, legislators have created a number of tax incentives over the years designed to spur growth in the industry.  Unfortunately, these incentives [...]