Every dollar your organization pays in taxes is a dollar that will never contribute to profitability or growth. With our deep knowledge of federal tax law, regulatory and legislative pronouncements, and tax court rulings, CohnReznick advises your business on ways to minimize tax obligations and maximize benefits in full compliance with the law.
COMPLIANCE AND PREPARATION
Your company’s tax situation is unique. CohnReznick conducts a thorough review of your business plans, current activities, and industry nuances to develop an optimal tax strategy. Our capabilities extend well beyond tax reporting and filing to include expert advice on tax deferral programs, federal tax credits, and other incentive programs. Once in place, our team works with you to proactively comply with current and evolving regulations to reduce tax burdens while fulfilling all statutory requirements.
NATIONAL TAX ADVISORY
Successful organizations balance two tax objectives — minimizing their tax burdens and reducing the risk of audit and unexpected tax liabilities. Our National Tax Advisory group works to meet both goals, delivering advice on best practices for tax-efficient accounting on income and expenses, inventory, Section 382 net operating loss (NOL) calculations, limitations, and carry-forwards. By performing repair and maintenance analyses, fixed asset studies, and earnings and profit analyses, this team identifies opportunities for your business to minimize federal tax obligations. At the same time, through a cost segregation analysis of your personal and real property, we may discover ways to defer taxes, increasing cash flow to your business.
TAX PROVISION (ASC 740, 740-10)
Compliance with financial rule ASC 740 and ASC 740-10 provisions on calculating current and deferred income tax is now required of all companies adhering to U.S. GAAP standards. CohnReznick brings in-depth knowledge of rules and requirements and a familiarity with best practices including the establishment of a robust recognition, measurement, and disclosure process to support all of your business filings.
CohnReznick Tax: Alerts and Webinars
InsightIRS releases additional guidance on Section 174Richard Shevak, Travis Butler, Xiaofei Wang, Mike Guisinger, Tim Morrison, Scott Hamilton, Jessie CahillThe IRS has released additional guidance on Section 174 specifically addressing the amortization of Specified Research and Experimental (SRE) expenditures.
InsightIRS announces audit initiatives focused on large partnerships, high earnersDan WiseThe IRS plans to use new technology, including AI, to target high-income cases for examination in an effort to improve audit selection and outcomes.
InsightIRS halts processing new ERC claims to combat fraudDana S. FriedAmid concerns of incorrect filing, in some cases due to aggressive promoters, the IRS has advised employers to review their claims. Read more.
InsightIRS delays ROTH requirement for higher-paid employees’ catch-up contributionsDana S. FriedRecent changes to retirement plan contributions for higher-paid employees will now take effect in 2026. Additional guidance is forthcoming. Read more.
InsightIRS: Supply disruption not sufficient for ERC ‘partial suspension’ eligibilityDana FriedBusinesses that claimed an Employee Retention Credit based on supply chain trouble as a Partial Suspension may need to take corrective steps. Read more.