The ICS team is sponsoring the NAHB International Builders' Show 2023 Las Vegas. The NAHB International Builders' Show Las Vegas is the largest annual light construction show in the world. Organized by the National Association of Home Builders (NAHB)....
The §179D Deduction requires energy modeling whereby the building is compared to the same building constructed to the minimum requirements of a specified ASHRAE 90.1 Reference Standard. In Announcement 2023-1, the IRS affirmed ASHRAE 90.1-2019 as the new Reference Standard. The new standard will be applicable for any projects placed in service after 2026. The IRS also clarified that ASHRAE 90.1-2007 will remain the Reference Standard for any projects placed in service before the newer standard goes into effect. In addition, taxpayers who began construction before 2023 may utilize Reference Standard 90.1-2007 regardless of when the building is placed in service....
I have been working with ICS for the past 4 years. Amazing experience. I would highly recommend them. Betty Collins. Director. Brady Ware & Company...
We have had the pleasure of working with ICS Tax. They are professionals and came out to the site visit with their engineers. Project went smoothly and we were able to save thousands of dollars in tax deductions...
IRS published Notice 2022-61 to explain how taxpayers can meet prevailing wage requirements to obtain higher credits and deductions with the §45L Energy Efficient Home Credit and the §179D Energy Efficient Commercial Building Deduction....
Our company has utilized the services of ICS Tax, LLC for the past two years. Lacy and Michelle are the epitome of professionalism. I would highly recommend their work to other businesses. ...
Alexander Bagne, JD, CPA, MBA, CCSP, is presenting accounting methods at the CCH Connections: User Conference in Tampa, Florida. The conference provides the skills, tools, and community that helps improve tax and accounting professionals. Alex’s presentation explains how accounting methods serve as a powerful mechanism to implement valuable tax strategies as well as how to maintain compliance or remove IRS audit exposure. ...
ASCSP is celebrating 16 years of supporting the Cost Segregation industry by hosting its annual conference in Arlington, Texas. Cost Segregation professionals from ICS Tax, LLC are attending the annual conference to stay abreast of the latest updates within the industry. At ICS, all cost segregation studies are stamped by a Certified Cost Segregation Professional (CCSP), the highest credential in the Cost Segregation industry, which requires seven years and 7,000 hours of relevant Cost Segregation experience, passing of a rigorous exam, and peer review of a prior study....
The existing 179D rules continue through December 31, 2022, with new rules going into effect for property placed in service January 1, 2023. The act increases the 179D deduction while lowering the minimum required savings, and expanding allocations to all tax-exempt entities...
President Biden signed Into Law H.R. 5376, The Inflation Reduction Act of 2022. The Act extended the 45L credit for homes sold or leased during 2022 with little modification. Thus, residences sold or leased in 2022 would qualify for the 45L credit using the 2021 energy efficiency standards. However, from January 1, 2023 through December 31, 2032, the Act significantly changes the 45L Energy Efficient Home Credit with new provisions and requirements. ...