Home - ICS Tax, LLC

Our Philosophy

ICS approaches every project thoughtfully with an unparalleled team of experts.

Our Expertise

We have the expertise to help organizations of all sizes, from single-office CPA firms to Fortune 500 companies.

Our Value

ICS performs free preliminary analyses for all service lines while capping fees to guarantee outstanding value.

Our People

The ICS team has the combined expertise and best practices of all Big-4 accounting firms.

Our Strategy

We strongly advocate for our clients and are tenacious in identifying all potential opportunities.

Our Communication

We provide frequent updates and maintain open communication so that projects proceed efficiently and delays are minimized.

Our Deliverables

Our deliverables are complete and defensible. We also include audit protection on our projects.

Our Standards

All cost segregation projects are reviewed and signed by an in-house Certified Cost Segregation Professional.

179D Energy Efficient Commercial Building Deduction

45L Energy Efficient Home Credit

Comprehensive Fixed Asset Review

Research & Development Tax Credits

Cost Segregation Studies

Accounting Method Changes

IC-DISC Export Incentives

Utility Rebates

1031 Like-Kind Exchanges

Who we are…

ICS Tax, LLC (ICS) is a consulting firm providing innovative tax planning strategies. ICS collaborates with taxpayers and their tax professionals to identify credits and incentives that reduce tax liabilities and increase profitability. With its headquarters in Minneapolis, Minnesota and offices throughout the United States, ICS provides service nationwide.

Latest News

31

Jan 21

Despite PPP Loan Forgiveness, State Tax Conformity Rules May Reduce R&D Tax Credits

While the Consolidated Appropriations Act, 2021 clarified that expenditures paid with forgiven Paycheck Protection Program loan proceeds are deductible for federal income tax, the relief may be short-lived for state income tax depending upon that state's conformity with the federal tax code and as such, may also reduce R&D Tax Credits.

21

Jan 21

Travis Mlodzik Joins the ICS Tax Team

ICS Tax welcomes Travis Mlodzik as the Central Practice Leader, where he will office out of our Twin Cities office.

28

Dec 20

179D and 45L Energy Efficiency Incentives Extended

The passing of the latest coronavirus relief bill titled the 'Consolidated Appropriations Act, 2021' ("CAA 2021") made permanent the §179D Energy Efficient Commercial Building Deduction (§179D Deduction) and extended the §45L Energy Efficient Home Credit (§45L Credit) through December 31, 2021.

21

Dec 20

Proposed Coronavirus Relief Legislation Titled ‘Consolidated Appropriations Act, 2021’ Would Extend 179D and 45L Energy Efficiency Incentives

If signed into law, the latest coronavirus relief bill titled the 'Consolidated Appropriations Act, 2021' ("CAA 2021") would make the §179D Deduction permanent and extend the §45L Credit through 2021.

24

Nov 20

IRS Issued Final Regulations on Sec. 1031 Like-Kind Exchanges, Provides Definition of Real Property, Addresses Taxpayer’s Receipt of Personal Property Incidental to Real Property

The IRS released final regulations providing guidance under IRC Sec. 1031 to implement recent changes for like-kind exchanges. Sec. 1031 allows for the deferral of gain recognition on the sale of business property if the relinquished property is replaced with a similar type of property. Prior to the Tax Cuts and Jobs Act (TCJA), both personal property and real property qualified for like-kind exchange treatment, but now only real property qualifies.

11

Nov 20

Downsides to the COVID-19 Tax Relief Legislation That Could Impact the R&D Tax Credit

NOL rules frequently change and are oftentimes not favorable to a taxpayer. Prior to the CARES Act, the TCJA would not allow NOLs to be carried back and only 80% of NOL carryforwards would be allowed to offset taxable income effective for tax years commencing January 1, 2018.

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