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Manufacturers › Internal Revenue Service › Tax Deductions

Eversheds Sutherland (US) LLP

IRS warns taxpayers using obsolete section 199 deductions

Eversheds Sutherland (US) LLP on

On February 25, the IRS issued a warning to taxpayers seeking to secure missed domestic production activities deductions under the now obsolete section 199. The IRS maintains that a high percentage of such claims are not...more

Dentons

The Old, the New, and the Delayed DPAD for Cooperatives

Dentons on

The Old Domestic Production Activities Deduction - Prior to 2018, U.S. manufacturers, including farmers’ cooperatives, enjoyed a lucrative income tax deduction popularly known as the Domestic Production Activities...more

Holland & Knight LLP

House and Senate Tax Reform Proposals Diverge on Energy Provisions

Holland & Knight LLP on

On November 2, House Republicans introduced H.R. 1, the Tax Cuts and Jobs Act. Senate Republicans followed suit shortly thereafter, releasing their proposal on November 9. The House Ways & Means Committee concluded its markup...more

McDermott Will & Emery

IRS Addresses Whether Publisher Is “Producer” Under §199

McDermott Will & Emery on

In a recently released Chief Counsel Advice, the IRS National Office concluded that a publisher’s activities in producing an “electronic” version of books that were “printed” by a third party did not constitute qualifying...more

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