Monthly Archives: February 2012

The Dow Jones industrial average closed above 13,000 for the first time since 2008

http://abcnews.go.com/blogs/business/2012/02/dow-closes-over-13000/

Posted in Uncategorized | Comments Off

Who’s eligible for domestic production deduction in contract manufacturing situations?

IRS’s Large Business & International Division recently issued guidance for examiners seeking to determine which taxpayer in a contract manufacturing situation has the benefits and burdens of ownership for purposes of the Code Sec. 199 domestic production activities deduction.

Posted in Uncategorized | Comments Off

Obama signs payroll tax cut extension into law

Read article: http://www.washingtonpost.com/business/economy/obama-signs-payroll-tax-cut-extension-into-law-includes-jobless-benefits/2012/02/22/gIQArSaAUR_story.html.

Posted in Uncategorized | Comments Off

February Tax Alert – Issue 2

What’s New: Extension of Popular Federal Incentives Omitted From Last Serious Pre-Election Legislation Potential Impact: High. HR 3630, the Temporary Payroll Tax Cut Continuation Act of 2011, was passed by Congress on February 17, 2012 and is expected to be … Continue reading

Posted in Tax Alerts | Comments Off

49ers Football Coming to Santa Clara Beginning August 2014!

http://www.huffingtonpost.com/2012/02/15/49ers-moving-to-santa-clara-stadium_n_1280504.html

Posted in Uncategorized | Comments Off

Important federal incentives (R&D Credit/100% Bonus Deprec) not likely to receive extension during 2011

http://finance.yahoo.com/news/business-tax-breaks-boot-payroll-101300201.html

Posted in Uncategorized | Comments Off

Annual Letter to Clients, Colleagues, & Associates

FOR IMMEDIATE RELEASE Contact: Shamen R. Dugger, Esq, CPA Shamen@cliftondouglas.com 84 South First Street, Third Floor San Jose, California 95113 Phone: 408-293-2401 Clifton Douglas Releases Annual Letter to Clients, Colleagues, and Associates San Jose, CA — February 16, 2012 — … Continue reading

Posted in Press Releases | Comments Off

U.S. District Court Denies Taxpayer Sampling to Ease Research Credit Substantiation Burden

In refund suit involving Code Sec. 41 credits for qualified research expenses (QREs), amended statistical sampling motion which taxpayer/multinational health and science corp. brought in response to allegedly unduly burdensome govt. discovery request, requesting that taxpayer identify each business component … Continue reading

Posted in Uncategorized | Comments Off

Deal reportedly reached to extend payroll tax cut

It’s been reported that a tentative deal has been reached to extend the payroll tax cut through the end of 2012. The deal also would extend unemployment insurance, and implement the “doc-fix” (which prevents Medicare reimbursement rates to doctors from … Continue reading

Posted in Uncategorized | Comments Off

FinCEN gives certain investment advisor employees and officers even more time to file FBARs

Treasury’s Financial Crimes Enforcement Network (FinCEN) has announced in a Notice that certain employees and officers of an investment advisor with only signature authority over certain foreign financial accounts, who are required to file Form TD F 90-22.1, Report of … Continue reading

Posted in Uncategorized | Comments Off