For over 50 years, Bloomberg Tax’s renowned flagship daily news service, Daily Tax Report® has helped leading practitioners and policymakers stay on the cutting edge of taxation and...
Jan. 29 — The IRS is reflecting the changing world of technology in new guidance that updates the definition of internal-use software so that more consumer-facing software will be eligible for the research and development tax credit, experts told Bloomberg BNA in a series of interviews.
“The IRS is acknowledging that the world has evolved,” William A. Schmazl, a partner in the tax controversy practice at Mayer Brown LLP, said Jan. 21. The rules show the agency's recognition that consumer interaction with the Internet “was the part of our economy that was growing most dramatically. Many, many more software projects will be judged on the same standard as other consumer-facing products,” he said.
The new proposed regulations (REG-153656-03) mean a vast amount of software used to power sites designed to allow customer interaction generally won't be considered internal-use software that doesn't qualify for the credit, practitioners told Bloomberg BNA.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to email@example.com.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to firstname.lastname@example.org.
Put me on standing order
Notify me when new releases are available (no standing order will be created)