- A large Federal agency needed to modernize its health claims process to provide more timely and accurate payments created by gaps and inefficiencies in its legacy systems.
- The IRS issued Notice 2013-60, which has updated prior guidance (Notice 2013-29) relative to the "begun construction" requirement for facilities producing electricity qualified energy sources to qualify for the Production Tax Credit (PTC) and Investment Tax Credit (ITC).
- The IRS Large Business and International Division recently issued a memorandum providing that it will not challenge a taxpayer's application of this success-based fee safe harbor to certain milestone payments so long as specific criteria are met.
- When unexpected disputes arise on critical projects, concerns about schedule, completion costs and the administrative burden of resolving the dispute soon follow.
- Updates for hedge and PE funds including the Sun Capital decision, new temporary identified mixed straddle regulations, and FATCA.
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